Web hosting Glossary

Definitions of insurance and freight:

• (...Named Place of Destination): A Term of Sale where the seller has the same obligations as under the CFR but also has to procure marine insurance against the buyer's risk of loss or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The CIF term requires the seller to clear the goods for export.
  www.epoi.com/jargon.html
• the exporter pays the cost of goods, cargo and insurance plus all transportation charges to the named port of destination.
  www.cbsc.org/servlet/ContentServer
• Cost, insurance, and freight (CIF) to a named overseas port of import. Under this term, the seller quotes a price for the goods (including insurance), all transportation, and miscellaneous charges to the point of debarkation for the vessel. (Typically used for ocean shipments only. CIP, or carriage and insurance paid to, is a term used for shipment by modes other than water.)
  www.rmauduit.com/glossary-con.html
• (... named port of destination) "CIF" is CFR. with the additional requirement that the seller procure transport insurance against the risk of loss or damage to goods. The seller must contract with the insurer and pay the insurance premium. Insurance is generally more important in international shipping than domestic shipping, because US laws generally hold a common carrier to be liable for lost or damaged goods.
  www.cargo.com.lb/incodesc.html
• This Incoterm is identical in most particulars with CFR and the same comments apply, including its applicability only to conventional maritime transport. In addition to the CFR responsibilities, the seller under CIF must obtain in transferable form a marine insurance policy to cover risks of transit with insurers of repute. The policy must cover the CIF price plus 10 per cent and where possible be in the currency of the contract. ...
  www.zygo.ltd.uk/incoterms.htm
• This arrangement is similar to CFR, but instead of the buyer insuring the goods for the maritime phase of the voyage, the shipper/seller will insure the merchandise. In this arrangement, the seller usually chooses the forwarder. "Delivery" as above, is accomplished at the port of destination.
  www.usaexportimport.com/incoterms.htm
• A trading term used in the sale of goods to denote that the price includes the main freight and marine insurance costs to port of destination.
  www.genesisny.net/Yatchs/MaritimeTerms.html
• Delivery dates from manufacturers are estimated and the number of hours or days to ship from one location to another is not guaranteed. If Customer is not able to accept the goods on the scheduled delivery date, Seller reserves the right to either cancel the order in full or store the goods at Customer's expense. The method and route of shipment are at Seller's discretion, unless the Customer supplies explicit instructions at the time of purchase. ...
  www.howard-supply.com/terms_conditions.htm
• Seller is responsible for inland freight, ocean/air freight, and marine/air insurance to the port of final entry in the buyer's country. The buyer is responsible for inland transportation to his or her location.
  www.stateofflux.co.uk/tax_in_the_supply_chain/tax_in_the_supply_chain_glossary.aspx
• The quote you give includes everything including insurance to get the product to the foreign ocean port.
  flytrapinteractive.com/~personal/Eti/wbt/web/glossary.cfm
• The Seller owns the goods until they are loaded on the truck (or other vessel). The selling price includes the cost of the goods, insurance and freight charges.
  www.marketsgl.com/links/shipterms/
• A description signifying that the price of the goods concerned includes their safe delivery to the customer.
  www.indiainfoline.com/bisc/jama/jmmc.html

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