From an insurance and risk perspective, it is always prudent to clearly show the actual place of insured destination in the sales contract, commercial invoice, L/C and any other relevant documents. The BUYERis responsible to hire and pay for all costs associated with off-loading the cargo at Dar es Salaam. Since it is his cargo, the BUYER is obligated to do what is required to off-load his cargo. The cargo becomes the buyer’s property from the moment the cargo passes over the ships rail at the port of shipment is loaded on board the ship. A container terminal can be broadly defined as an open system of material. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.” transportation modes has become a norm today, large vessels transport 95 of. The buyer should note that under CIF the seller is required to obtain insurance only on minimum cover. The inspector verifies that the correct goods were packed and that all the client’s specifications were met. If the container is in good condition and the goods are 100 packed and confirmed, the warehouse loading and unloading procedure continues. ‘The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The container loading process starts with a container inspection. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. This is to overcome the nightmare scenario that we discussed at the beginning of this article. The risk of loss of or damage to the goods passes when the goods are on board the vessel. It is the method of segregating and storing containers or cargo onboard a ship so that those meant to be offloaded at a specific location are stacked together. Trudi – Incoterms® 2010 defines CIF as below :ĬIF – Cost, Insurance, and Freight “Cost, Insurance and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered.
CONTAINER OFFLOADED FROM SHIPPING VESSEL MEANING PORTABLE
Who is responsible to hire and pay a portable crane to off load the cargo in Dar es Salaam – the buyer or the seller. The port cranes in Dar es Salaam can not handle the tonnage of the item we are sending.
Trudi asked below question about CIF Terms and who is responsible to off-load cargo from the ship – seller or buyer.?
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