Insurance Document

shahriar · Post by **shahriar** » Mon Apr 20, 2009 11:10 pm

Dear Friends,

If the LC says "..... CIF Y port" but is silent on insurance document issue, will you require a insurance document for compliance?

Ahmed Yehia Ismail · Post by **Ahmed Yehia Ismail** » Mon Apr 20, 2009 11:41 pm

the delivery term (CIF) requires the seller (beneficiary of L/C) to present the insurance certifiacte or policy , therfore, the presentation of the insurance document is mandatory

loankim · Post by **loankim** » Tue Apr 21, 2009 4:22 pm

Hi ,

i don't think that we pay attention to INCOTERM 's impact in all cases.
Although delivery term (CIF) but it always needn't to present insurance document. Because yr credit applies on UCP not INCOTERM , you can refer to the latter to consult the applicant about requiremented docs.
So if the deposit of margin is full for lc amount, it's not problem,it depends on applicant 's choices. if the relation between Bene and applicant is good, there are a lot og docs not presented throught bank. The applicant only need a Bene's cert to confirm their sending and be called for in LC.
The compliance is based on yr LC, UCP and ISBP to conclude not to INCOTERM.

RGDS,

shahriar · Post by **shahriar** » Tue Apr 21, 2009 7:29 pm

dear kim,

i agree with your comment. thanks!

ldt5205 · Post by **ldt5205** » Wed Apr 22, 2009 8:47 am

I AGREE THAT IF THE SECURITY PROVIDED BY THE APPL IS INDEPENDENT OF THE LC AND THE DOCS PRESENTED,THAT IS O.K.

Insurance Document

Insurance Document

insurance document

may no need to present

i agree

I AGREE