1. CIF Contract
As far as the documents are regarded, the seller must tender to the buyer an invoice, a clean shipped bill of lading and an insurance policy. ... The insurance policy must cover the goods from the moment when they are load on the board until the buyer receives them. According to the Icoterms 1990, the seller must "A3 (b) Obtain at his own experience cargo insurance as agreed in the contract, that the buyer, or any other person haying an insurable interest in the goods, shall be entitled to claim directly from the insurer and provide the buyer with the insurance policy or other evidence of insu...
- Word Count: 3723
- Approx Pages: 15
- Has Bibliography
- Grade Level: High School