Cif cost, premium plus freight (... Designated port of destination)
“cost, insurance and freight” means that the seller completes delivery when the goods cross the ship's bow。
The seller was required to pay the freight and costs of transporting the goods to a designated destination port, but the risk of loss or damage to the goods after delivery and any additional costs arising from various events were transferred from the seller to the buyer. However, under cif conditions, the seller is also required to insure the buyer against the risk of loss or damage to goods in transit。
Thus, the seller entered into an insurance contract and paid the premium. The buyer should note that the cif term only requires the seller to take the minimum insurance risk. If the buyer needs a higher level of insurance coverage, it needs to make an explicit agreement with the seller or make additional insurance arrangements on its own。
Cif terminology requires the seller to perform customs clearance of the goods for export。
The term applies only to sea and inland carriage. Cip terminology should be used if the parties had no intention of crossing the shipboard。
A. Obligations of the seller
B. Buyer obligations
A1 supply of goods in conformity with contract
The seller is required to provide the goods or equivalent electronic information that complies with the contract of sale, as well as any other proof that the goods conform to the contract that may be required by the contract。
B1 payment of price
The buyer must pay the price in accordance with the terms of the sales contract。
A2 licences, other permits and formalities
The seller must take the risks and expenses, obtain any export licence or other official permit and, if customs formalities are required, perform all customs formalities necessary for the export of goods。
B2 licences, other permits and formalities
The buyer must take the risk and expense, obtain any import licence or other official permit and, if customs formalities are required, perform all customs formalities for the import of goods and transit through other countries。
A3 contract of carriage and insurance contracts
A) contract of carriage
The seller must, at its own expense, enter into a contract of carriage under the usual conditions and by the usual route, carry the goods by sea (or, as the case may be, a vessel suitable for inland waterways) of the type of goods referred to in the contract of carriage to the designated port of destination。
(b) insurance contracts
The seller must obtain insurance for the goods at its own expense and provide the buyer with insurance policies or other insurance evidence to enable the buyer or any other person with an insurance interest in the goods to claim directly from the insurer, as stipulated in the contract. An insurance contract shall be entered into with a reputable insurer or insurance company and, in the absence of an express agreement to the contrary, shall be insured in accordance with the minimum insurance coverage in the association's goods insurance clause (lisk insurers ' association) or other similar terms. The insurance period shall be in accordance with b5 and b4. At the buyer's request, and at the buyer's expense, the seller shall contribute to war, strike, riots and civil war, if insured. The minimum insurance amount shall include an additional 10 per cent (or 110 per cent) of the contract price and shall be in the contract currency。
B3 contract of carriage and insurance contract
A) contract of carriage
No obligation。
(b) insurance contracts
No obligation。
A4 delivery
The seller must deliver the goods to the ship at the port of shipment on an agreed date or time period。
B4 goods received
The buyer had to receive the goods at the time the seller had delivered the goods in accordance with a4 and from the carrier at the designated port of destination. A5 risk transfer
Except as provided in b5, the seller must assume all risks of loss of or damage to the goods until the goods cross the port of embarkation。
B5 risk transfer
The buyer must bear all the risks of loss or damage to the goods after the port of embarkation has crossed the shipboard。
If the buyer does not give notice to the seller as required by b7, the buyer must assume all the risks of loss of or damage to the goods from the agreed date of shipment or the expiration of the period of shipment, provided that the goods have been formally assigned to the contract, that is, clearly identified or otherwise determined as the goods under the contract。
A6 cost classification
Except under b6, the seller must pay
(b) freight and all other expenses incurred under a3a, including the cost of loading the goods; and
(a) the costs of insurance incurred under a3b; and
(b) any discharge costs incurred by the seller under the contract of carriage at the agreed port of discharge; and
When customs formalities are required, the costs of customs formalities required for the export of goods and all duties, taxes and other charges to be paid for their export, as well as the costs of transit of goods from another country, as provided for in the contract of carriage, to be paid by the seller。
B6 cost classification
Except for a3a, the buyer must pay
(a) all costs from the time of delivery in accordance with a4; and
(a) all expenses incurred by the goods in transit until their arrival at the port of destination, unless such expenses are payable by the seller under the contract of carriage; and
(b) if the buyer has not given notice to the seller in accordance with the provisions of b7, all additional costs incurred in respect of the goods from the date of the agreed shipment or the expiry of the period of shipment, provided that the goods have been formally assigned to the contract, that is, clearly identified or otherwise identified as the goods under the contract; and
When customs formalities are required, all duties, taxes and other charges payable for the import of goods, as well as the costs of customs formalities and, if necessary, the costs of transit through other countries, unless they are included in the contract of carriage。
A7 notification to buyer
The seller must give the buyer sufficient notice that the goods have been delivered in accordance with a4, as well as any other notice required, so that the buyer can take the measures normally necessary to receive the goods. B7 notification to seller
Once the buyer has the right to decide on the timing and/or port of destination of the shipment, the buyer must give the seller full notice thereof。
A8 delivery certificates, transport documents or equivalent electronic messages
The seller, at its own expense, must provide the buyer without delay with the usual transport documents indicating that they were destined for the agreed destination。
Such a document (e. G. A negotiable bill of lading, a non-negotiable sea waybill or an inland water transport document) must contain the contract goods at an agreed date during the period of shipment to enable the buyer to take delivery of the goods from the carrier at the port of destination and, unless otherwise agreed, to enable the buyer to sell the goods in transit to the subsequent buyer by means of the negotiable document (negotiable bill of lading) or by notifying the carrier。
In such cases, several originals of the transport document should be provided to the buyer。
If the buyer and seller agree to use electronic means of communication, the documents referred to in the preceding subparagraph may be replaced by electronic data interchange (edi) messages of equal effect。
B8 delivery certificates, transport documents or equivalent electronic messages
The buyer had to accept the transport document provided under a8 if it complied with the contract。
A9 matching, packaging, marking
The seller must pay the check-in costs (e. G. The cost of checking the quality of the goods, measuring, overpounding, points) required for delivery under a4。
The seller must pay its own expenses to provide the packaging required for the transport that it arranges (unless the goods are not shipped in packaging, as described in the contract, in accordance with industry practice). Packaging shall be properly marked。
B9 goods inspection
The buyer had to pay for any pre-shipment inspection, except those mandatory by the competent authorities of the exporting country. A10 other obligations
At the buyer's request and at its own risk and expense, the seller must give the buyer all assistance in obtaining any documents or electronic messages equivalent to those issued or transmitted by the country of shipment and/or origin that may be required for the buyer's import of goods and, if necessary, transit through another country (except as listed in a8)。
At the buyer's request, the seller was required to provide the buyer with the additional information required for insurance coverage。
B10 other obligations
The buyer was required to pay all expenses incurred in obtaining the documents referred to in a10 or electronic messages of equivalent value and to reimburse the seller for the costs incurred in providing assistance。
At the seller's request, the buyer was required to provide it with the information required for insurance。
