227 reactions · 4 comments | The Importance of Insurance in...
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Who take Insurance in Export? The responsibility for taking insurance in exports depends on the specific Incoterm used in the trade agreement. Here's a breakdown: Incoterms with Insurance Obligation: CIP (Carriage and Insurance Paid To): In this Incoterm, the seller is responsible for arranging and paying for minimum cover insurance against the buyer's risk of loss or damage to the goods from the place of delivery to the destination. CIF (Cost, Insurance, and Freight): Mainly used for maritime t
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