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Dear Friends,

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

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

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,

dear kim,

i agree with your comment. thanks!

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