Under CIF, the _____ should effect insurance.
A、buyer
B、seller
C、bank
D、shipping company
A、buyer
B、seller
C、bank
D、shipping company
A、to be covered by the buyer
B、to be covered by the seller
C、to be covered by insurance agent
D、to be effected by the buyer on behalf of the seller
A、Within 5 days.
B、Within 10 days.
C、Within 15 days.
D、Within 20 days.
B、to be covered by the seller
C、to be covered by insurance agent
D、to be effected by the buyer on behalf of the seller
B: OK.
A: We have a deal on CIF price.It means that the insurance should be borne by you, right?
B: Certainly.The premium should be paid by us.All our export goods sold on CIF terms arc insured with the PICC.They provide many kinds of coverages of marine insurance, such as F.P.A., W.P.A., A.R.and so on.
A: What kind of coverage will you arrange for our order then?
B: Usually we']] only insure W.P.A.for this kind.
A: We hope you can cover the Packing Breakage Risk for us.
B: We can do that for you.But additional premium should be on your account.
A.We will pay that.So, please insure the consignment against W.P.A.and Packing Breakage Risk for 150% of invoice value.
B: I am sorry, we only can insure goods for 110% of the invoice value.For 150% , the extra premium will be borne by you.
A: Then we made a deal that we will insure this consignment against W.P.A.and Packing Breakage Risk for 150% of invoice value.Is there anything else about the insurance clause?
B: I don't think so.
A、A.CFR
B、B.FOB
C、C.FAS
D、D.CIF
(1)( ) Yes
(2)( ) No
A Chinese foreign trade expoter exported 30 000 boxes of goods, contracting to ship the goods in each lot during March to August,5 000 boxes each month, payment by confirmed irrevocable letter of credit. The customer duly sent letter of credit on which the total amount are in conformity with the contract, but the shipping clausee indicated "the latest date of shipment is 31st,August, by partial shipment".Our exporter dispatched 5 000boxes in March, 6 000 boxes in April,10 000 boxes in May and 9 000 boxes in June. The customer raised an objection to this.Are the follow analysis correct? ( )
A、In order to get payment in due time ,we were supposed to do so.As credit is independent of the contract and once the credit and the relating documents are in conformity ,the exporter can get payment.
B、The letter of credit generally indicate that "the latest date of shipment is 31st,August, by partial shipment",According to UCP 600 section 31A"Unless there are other stipulations, transshipment and partial shipment is allowed".So our exporter was right.
C、in case of trouble in the following days,we shall adopt partial shipment in equal lots,which is corresponding to the contract and letter of credit.
D、Our exporter was wrong. because it is inconsistent with contract.
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