Cost, Insurance and Freight (…named port of destination)
Carriage and insurance to be arranged by the seller. Risk transfers from seller to buyer once goods on board vessel. The seller must procure marine insurance. Only used for ocean or inland waterway transport.
While the seller is responsible for procuring and paying for insurance cover during the voyage to the named port of destination, the buyer may exercise prudence and purchase additional insurance coverage.
Modes of Transport Covered
Used only for ocean or inland waterway transport.
|A. Seller's Responsibilities||B. Buyer's Responsibilities|
Provide the goods, commercial invoice or electronic message, and other documentation as required by the sales contract.
Pay for the goods as provided in the sales contract.
|A.2. Licenses and Customs Formalities
Obtain at own risk and cost any export licenses and authorizations and carry out all export formalities and procedures.
|B.2. Licenses and Customs Formalities
Obtain and pay costs of all import licenses and authorizations and carry out all import formalities.
|A.3. Carriage and Insurance
Contract for and pay costs of carriage by sea or inland waterway and insurance for 110 percent of the value of the contract to the named port of destination. The insurance policy must allow the buyer to make claim directly from the insurer. Deliver the insurance document to the buyer.
|B.3. Carriage and Insurance
No obligation to the seller to pay for carriage or insurance.
Deliver the goods on board the named vessel at the named port and at the date or within the time period stipulated in the sales contract.
|B.4. Taking Delivery
Take delivery of the goods at the port of destination as provided in the sales contract.
|A.5. Risk Transfer
Assume all risks of loss or damage to the goods until they have passed over the ship's rail at the port of shipment
|B.5. Risk Transfer
Assume all risk of loss or damage from the time the goods have passed over the ship's rail at the port of shipment.
Pay all costs of carriage and insurance until the goods have been delivered to the named port of shipment and passed over the ship's rail, plus costs of loading, carriage to the port of destination and normal unloading. Also to pay all costs relating to export including duties, taxes and customs formalities.
Pay all supplemental costs for the goods once they have passed over the ship's rail at the port of shipment, including unloading, lighterage and wharfage at the port of destination. Pay all costs relating to import formalities including duties, taxes and other charges including transshipment
|A.7. Notice to the Buyer
Provide sufficient notice to the buyer that the goods have been delivered on board the named vessel.
|B.7. Notice to Seller
If, according to the sales contract, the buyer is able to specify a time for shipping and/or specify a port of destination, to give the seller sufficient notice
|A.8. Proof of Delivery, Transport Documents
Provide the buyer with a transport document that will allow the buyer to claim the goods at the destination and (unless otherwise agreed) allow the buyer to sell the goods while in transit through the transfer of the transport document or by notification to the sea carrier.
|B.8. Proof of Delivery
Accept the seller's transport document so long as it is in conformity with the sales contract.
|A.9. Checking, Packing, Marking
Pay all costs associated with checking the quality and quantity of the goods to be in conformity with the sales contract. Provide appropriate packing (unless the goods are traditionally delivered unpackaged) as required for the transport of the goods, to the extent that the buyer has made transport circumstances known to the seller prior to the execution of the sales contract. Provide marking appropriate to the packaging.
Pay for the costs of pre-shipment inspection except inspections required by the country of export.
Provide the buyer at the buyer's request, risk and cost any and all assistance in securing documentation originating in the country of export or of origin required for import and for transshipment.
Pay costs of securing documentation from the country of origin or export as required for import. Reimburse seller such costs. Provide information necessary to obtain insurance.