Can any one help me in finding the correct incoterm, wherein the Freight is to be paid by the applicants and Insurance to be covered by the beneficiary. Awaiting your kind suggestions.
.
Which INCOTERM to be used
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murteza
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Which INCOTERM to be used
Hello All,
Can any one help me in finding the correct incoterm, wherein the Freight is to be paid by the applicants and Insurance to be covered by the beneficiary. Awaiting your kind suggestions.
.
Can any one help me in finding the correct incoterm, wherein the Freight is to be paid by the applicants and Insurance to be covered by the beneficiary. Awaiting your kind suggestions.
.
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pcdognicole
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- Joined: Sat Apr 04, 2009 10:10 pm
NO SUITABLE INCOTERMS
No such incoterms. You may use CIF but indicating freight charges paid by applicant in contract and L/C
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ldt5205
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GREE WITH Armagedo，BUT.....
I agree with Armagedo there is no such terms in Incoterm 2000 to be used.
But the sellers and buyers can modify the terms in their contracts.
But the sellers and buyers can modify the terms in their contracts.
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cristiand969
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Incoterms
The two conditions are illogical ones and that's why there is no incoterms to be applied.
On the first instance (about freight) the seller fullfilled his obligations once the goods passed the ship's rail whereas the second condition implies that seller (who previously ended his obligations and costs at POD) to be responsible for insuring the goods.
Is like saying: I will give you this dog if you make him fly.
On the first instance (about freight) the seller fullfilled his obligations once the goods passed the ship's rail whereas the second condition implies that seller (who previously ended his obligations and costs at POD) to be responsible for insuring the goods.
Is like saying: I will give you this dog if you make him fly.
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wongvv
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tailor-made "C N I"
Hi !
Without any responsibility on my part, I have made a tailor-made incoterm for you - cost and insurance to destination.
The risk, cost and documents are same as "CIF", except the freight is payable by applicant.
You may consider whether it is workable youselves.
V.V.
Without any responsibility on my part, I have made a tailor-made incoterm for you - cost and insurance to destination.
The risk, cost and documents are same as "CIF", except the freight is payable by applicant.
You may consider whether it is workable youselves.
V.V.
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Judith
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- Joined: Thu Mar 12, 2009 8:59 am
C&I
Although it is unusual, I have seen LCs requiring the shipping term as "C&I" or "Cost and Insurance."
This is not within the list of terms in the ICC Publication "Incoterms 2000" but as long as the buyer and seller are aware of their respective responsibilities, I guess that's fine.
However, I agree with Christian's viewpoint (other than the bit about the flying dog!
). Using non-standrad terms such as "C&I" leaves many open questions: Where does the risk transfer from the seller? Who enters into the contract of carriage? etc.
Hope this helps.
This is not within the list of terms in the ICC Publication "Incoterms 2000" but as long as the buyer and seller are aware of their respective responsibilities, I guess that's fine.
However, I agree with Christian's viewpoint (other than the bit about the flying dog!
). Using non-standrad terms such as "C&I" leaves many open questions: Where does the risk transfer from the seller? Who enters into the contract of carriage? etc.Hope this helps.
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cristiand969
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Dear Judith
I really enjoyed your post!(including exception ) 
)