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In CIF, the seller contacts for insurance and pays the insurance premium and bears all risks.( )
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更多“In CIF, the seller contacts for insurance and pays the insurance premium and bears all risks.（)”相关的问题
第1题
第2题
(1)( )CIF (2)( )DDP
(3)( )DEQ (4)( )DES
第3题
100 IBM personal computer USDI 500 each CIF Shanghai, September shipment irrevocable sight letter of credit(Buyer : Bank of China; seller : IBM) .
第4题
第5题
An intemational trade deal can involve up to four contracts and the importer must have a broad understanding of each of them. The four contracts are the contract of carriage , the export sales contract , the insurance contract and the contract of finance. There are three main areas of uncertainty as to which country's law will be applicable to their contracts; the difficulty emerging from inadequate and unreliable information; and the serious problem of the diversity of interpretation of th e various trade terms. The latter point can involve costly litigation and loss of much goodwill when a dispute over the interpretation of such terms arises.
The role of Incoterms 1990 is to give the business person a set of international rules for the interpretation of the more commonly used terms such as FOB, CIF and EXW in foreign trade contracts. Such a range of terms enables the businessperson to decide which is the most suitable for their needs , knowing that the interpretation of terms will not vary by individual country.
It must be recognized, however, that it is not always possible to give a precise interpretation. In such situations one musL rely on the custom of the trade or port. Businesspersons are advised to use terms that are subject to varying interpretations as little as possible and to rely on the well-established and intemationally accepted terms. To avoid any-misunderstandings or disputes, the parties to the contract are well advised to keep trading customs of individual countries in mind when negotiating their export sales contract. However,parties to the contract may use Incoterms as the general basis of their contract , but may specify variations of them or additions to them relevant to the particular trade or circumstances. An example is the CIF plus war risk insurance. The seller would base his quotation accordingly. Special provisions in the individual contract between the parties willoverride[1] anything in the Incoterm provisions.
A point to bear especially in mind is the need for caution in the variation, for example, of CFR,CIF or DDP. The addition of a word or letter could change the contract and its interpretation. It is essential that any such variation be explicitly stated in the contract to ensure each party to the contract to be aware of its obligations and act accordingly.
The buyer and seller parties Lo the contract must especially bear in mind that Incoterms only defines their relationship in contract terms, andhas no bearin directly or indirectly on[2] the carriers' obligations to them as found in the contract of carriage. However,the law of carriage will determine how the seller should fulfil his obligation to deliver the goods to the carrier on board the vessel as found in FOB, CFR and CIF. A further point to bear in mind by the seller and buyer is that there is no obligation for the seller to procure an msurance policy for the buyer's benefit. However, in practice, many contracts request the buyer or seller to arrange insurance from the point of departure in the country of dispatch to the point of final destination chosen by the buyer.
Incoterms 1990 can be divided into recommended usage by modes of transport as under all modes (i. e. combined transport) , EXW, FCA, CPT, CIP, DAF, DDP, DDU; conventional port/sea transport only FAS, FOB, CFR, CIF, DES, DEQ. Incoterms 1990 reflects the changes and development of international distribution during the past decade, especially the development of combined transportation and associated documentation together with electronic data interchange.
[1]比……重要
[2]与……没有直接或间接关系
Questions for reading :
第6题
Usually insurance is arranged by the exporter (under CIF terms etc. ) or the importer (under FOB, CFR terms etc.) approaching an insurance company which has a department specializing in cargo insurance. They may start by inquiring and choosing the right coverage and then negotiate insurance premium rates. Sometimes, brokers may be utilized whose assistance can be of enormous benefit as they are highly skilled specialists and can obtain sound and reliable coverage, together with competitive premium rates. In export trade, who will effect insurance depends on the particular trade terms adopted. Under CIF terms, it is the seller who arranges insurance with an insurance company. Under the terms as FOB, CFR, the buyer effects insurance, but he may ask the seller to arrange insurance on behalf of the buyer. An insurance policy is issued when goods are insured, but it is also usual for certificate of insurance to be issued for documentary purposes. An insurance policy is acrually a contract, serving as evidence of the arrangement between the insurer and the person taking out insurance. It forms part of the shipping documents.
In completing the insurance contract-the insurance policy-either party, buyer or seller, will undergo different steps, they are :
1. To apply for marine insurance
In some countries, the first step the insured party should take is to apply for insurance from a certain insurance company. The applicant should fill in the special form-the proposal form, which gives all the details concerning ownership, value, time span insurance will be for, risks and coverages, etc.
2. To determine the insurance value of the goods to be insured
Cenerally speaking, the value to be insured is based on the value of the commercial invoice; the need for maintaining adequate insurance has already been stressed. The recommended minimum amount is the total CIF value plus 10% for other fees and normal margin of profit. Probably the best way of determining needed insurance is to estimate the market value of the goods at the port of destination and to obtain coverage for that amount. Other methods of arriving at a valuation of goods may also be agreed,as determination of the value to be insured varies from country to country.
3. To determine the insurance average and coverage
Determining the right coverage sometimes can be easy, and sometimes difficult. The decision can be made only on the basis of the following factors : the nature of the product; packing considerations such as difference of air and sea transport; shipping route and ports consideration such as any transshipment on the way to the final port, etc. Based on the above factors , the insured may consider the averages and coverages. The average is closely linked with the goods and the goods,in return, are related with the coverage.
4. To determine insurance premium rates
The rates charged by the insurance company depend on many factors. The important determinants include the type of coverage desired, shipping routes, types of conveyances, duration of the voyage , and nature of the goods. Also important is each individual shipper's past loss experiences. Af'ter a period of favorable experience, rates may be lowered. Conversely,a shipper with a bad loss record may find his premiums increased. Generally, the greater the risks that the consignment is exposed to,the higher the premium will be. Premium for sending goods through the Persian Gulf,where the area is at a war, are much higher than sending oil through the Suez Canal. More exactly, the factors determining the insurance premium rates include the carrying vessel, nature of' the packing used, type of merchandise involved, nature of transit and related warehouse accommodation, previous experiences , the extent of cover needed and the volume of cargo involved.
5. To sign an insurance policy
Before filling in and signing an insurance policy, it is important to know what an insurance policy is and the kind of insurance policies. The most common policies being used now in the world today are msurance policy, insurance certificate and open policy , etc.
6. To lodge an insurance claim
Whenever an actual loss occurs ,it is important that the one having an interest in the goods can get fair, efficient, and rapid adjustment of his claims. A basic prerequisite for having a claim recognized by the insurance company is that the one making the claim has an insurable interest in the goods. Susceptibility to financial loss by the claim, if the shipment is lost or damaged,is sufficient to demonstrate an insurable interest. Claims can be made by the shipper,the buyer or even a carrier that has first lien on goods for unpaid freight charges. The one who registers a claim is not so easy. It needs patience, evidence and knowledge.
Most insurance company policies require that immediate notice be given to the nearest branch or agency in the event of damage giving rise to claim under a policy on goods. When notified of damage, the company's agent appoints a suitable surveyor to inspect the goods and to report on the nature and extent of damage. A common practice is for a report or certificate of loss incorporating the surveyor's findings to be issued to the consignees , the latter paying the fee. This certificate of loss is included with the claim papers and, if the loss is recoverable under the insurance cover,the fee is refunded to the claimants.
In some circumstances , the claim pap ers are returned to the place where the insurance was effected and subsequently to the underwriters. However, especially where goods are sold on CIF terms and the policy is assigned to the consignees;arrangements are made for any claims to be paid at destination. In such cases, the consignees approach the agents named in the policy for payment of their claims. Of course, the claims procedure will vary by circumstances but undoubtedly a quicker settlement should be secured in the event of loss or damage.
Questions for reading :
第8题
A.for
B.in
C.into
D.of
第9题
A.A. CPT
B.B. FCA
C.C. CFR
D.D. FOB
