The term CIF under Incoterms 2020 requires the seller to procure insurance for the buyer, but only minimum coverage.
举一反三
- According to INCOTERMS 2010, the ( )term require the seller to procure insurance and pay the insurance premium.
- According to Incoterms 2010. the seller is not obliged to cover insurance if the deal is under the DAT term, but he or she is if under the CIF term.
- In the CIF transaction, the seller is required to obtain insurance only on minimum cover.
- Under the CIF term the( )must contract for the cargo insurance． A: carrier B: buyer C: consignee D: seller
- which ones the following statements of CIF are 'ture' ? A: Under CIF, the Seller is required to obtain insurance only on minimum over. B: CIF stands for cost, Insurance and Freight (… named port of destination) C: The seller must present a bill of lading or other maritime document to the buyer. D: CIF rule is to be used irrepective of the mode of transport selected.