If the buyer considers that this level of cover is not sufficient, an agreed level of cover can be included elsewhere in the contract of sale. To Organiser le préacheminement des marchandises depuis l’usine du vendeur jusqu’au port d’embarquement. Deliver happens in the port of loading, the risk for seller ends at the port of discharge and must acquire insurance coverage. Organiser et régler le transport principal depuis le port d’embarquement jusqu’au port de déchargement. Definition of CIF (Cost insurance and Freight), Revisions of CIF (Cost insurance and Freight) under Incoterms 2020. The seller is not obliged to arrange insurance for pre-carriage in the export country or carriage in the import country unless this is specified elsewhere in the sales contract. The term FOB is an abbreviation of free on board.If goods are shipped FOB destina­tion, transportation costs are paid by the seller and title does not pass until the carrier delivers the goods to the buyer.. Accomplir, dans le pays du vendeur, les formalités de douane et supporter les taxes liées au dédouanement. We covered the benefits of marine cargo insurance at length in this post, have a look at it if you need a clearer picture. – DAP (Delivered at Place) CIF risk transfer takes place when the merchandise is loaded onto the shipping vessel and is recommended for situations in which the seller is able to access the vessel directly, such as in the case of bulk cargo shipping. This rule and CIP (Carriage & Insurance Paid to) are the only two rules that place an obligation on the seller to arrange insurance for the consignment. Theme design by Web-Kreation. Advantages and Disadvantages of CIF – Cost insurance and Freight, CIF (Cost insurance and Freight) and Letters of Credit, Privacy Policy of Atlas International Network NV, Goods, commercial invoice and documentation, Payment for goods as specified in sales contract, Cost of import clearance pre-shipment inspection. Qu’est-ce que l’incoterm CIF « Cost, Insurance and Freight »? It is commonly used for bulk cargo, oversized or overweight shipments. The insurance must cover the price of goods plus 10%. However, we recommend that new buyers use CIF as they get accustomed to the importing process. l’assurance es qu’elle est a l charge du vendeur ou de l’acheteur? La part de responsabilité est donc plus grande pour le vendeur que pour l’acquéreur. INCOTERMS 2010: ICC OFFICIAL RULES FOR THE INTERPRETATION OF TRADE TERMS CIF - Cost, Insurance and Freight (named port of destination) This term is broadly similar to the above CFR term, with the exception that the seller is required to obtain insurance for the goods while in transit to the named port of destination. In most cases of FOB, liability and title possession shifts when the shipment leaves the point of origin. Ideally, the transfer of transport responsibility, transfer of risk and transfer of ownership happens at the exact same point to avoid any ambiguity. Under CIF, the seller is responsible for the cost and freight of bringing the goods to the port of destination specified by the buyer. Under CIF, the seller is contractually obliged to provide insurance for the transport of the goods. Qu’est ce que l’incoterm DAT « Delivered at Terminal »? http://fr.wikipedia.org/wiki/Cost,_Insurance_and_Freight, Thibaud Rassat Incoterms 2020 is the ninth set of international contract terms published by the International Chamber of Commerce, with the first set having been published in 1936. This makes CIF unsuitable for containerized cargo, which is … is the easy part; CIF 2020 is classified for sea transportation only. En français, c’est incoterm est appelé CAF (coût, assurance, frêt). If there is cargo damage on board of the vessel, and the damage is proved to be damaged by the carrier, the buyer cannot argue that he/she hasn’t had ownership of the goods yet if the Bill of Lading hasn’t reached him. Mettre à disposition les biens à la sortie de l’usine du vendeur. A seller can get a Class (C) coverage and still fulfill the requirements set in the INCOTERM Rule unless the buyer explicitly requires other forms of insurance coverage. FOB saves buyers money and provides control, but CIF helps sellers have a higher profit. The difference between CIF and CFR is that while the risk of loss or damage at delivery becomes the buyer’s, the seller is obliged to take out insurance for that risk and provide the buyer with a document which allows the buyer to claim against that insurance. Qu’est-ce que l’incoterm CPT « Carriage Paid to »? Tu as le calcul précis sur ce lien: On the other hand, although CIP generally sets upfront that the seller is required to purchase insurance, there are no hard rules on how much coverage minimum is required. http://commerceinternational.centerblog.net/3660276-Calcul-de-l-assurance-sur-le-CIF, » l’incoterm CPT (Carriage Paid to) – les incoterms 2010 | le blog de gcb sourcing, » l’incoterm DAP (Delivered at Place) – les incoterms 2010 | le blog de gcb sourcing, » l’incoterm DDP (Duty, Delivered Paid) – les incoterms 2010 | le blog de gcb sourcing, » l’incoterm FAS (Free Alongside Ship) – les incoterms 2010 | le blog de gcb sourcing, » l’incoterm FOB (Free On Board) – les incoterms 2010 | le blog de gcb sourcing, » l’incoterm FCA (Free carrier) – les incoterms 2010 | le blog de gcb sourcing, Anticipez le délai de votre livraison maritime, Toujours Douter des Certifications de son Fournisseur, Devis d’un fournisseur chinois : les points importants. this specific point, before the Original Bill of Lading reaches the hand of the Goods, commercial invoice and documentation, Payment for goods as specified in sales contract, Cost of import clearance pre-shipment inspection. – FOB (Free On Board) Are you interested to become a member of the Alfa Logistics Family? The advantage to the buyer is that it does not have to worry about declaring the shipment to its own insurer. With the CIP 2020, the seller takes the responsibility for transporting the cargo to a named destination of the buyer’s choice. bulk cargos or non-containerised goods. http://www.algomtl.com/incoterms.html Revisions of CIF (Cost insurance and Freight) under Incoterms 2020 There are some problems with the configuration of the opt-in widget, Synthèse incoterm Cost Insurance and Freight. Any references you might see to Incoterms® 2015, Incoterms® 2016, Incoterms® 2017, and so on, aren’t accurate. With CIF, risk is transferred only when the goods are loaded on board the ship at origin. With CIF, responsibility transfers to the buyer when the goods reach the point of destination. You might realize we specifically avoid using the term “Transfer of ownership” to describe the transfer of risk too. Lors d'un transport sous l' incoterm CIF, le vendeur est en charge de : Procéder à l’emballage, l’étiquetage et au marquage des marchandises afin que le transport se déroule pour le mieux. Hi Mohammad, when the incoterm is CIF to a specific destination port is the obligation of the seller discharged once the shipment is on board or whenbthe shipment reaches the final … This makes CIF unsuitable for containerized cargo. Cost, insurance, and freight (CIF) is a common method of import and export shipping. © Copyright Max Freight Forwarders (M) Sdn Bhd. Contact a representative today. For example, in a Free on Board or (FOB) shipment, the seller is responsible for transferring the cargo to the port, clearing customs for export and stage the container onto the booked vessel. This makes CIF unsuitable for containerized cargo, which is usually dropped off at terminal days prior to loading. Marine Cargo Insurance has 3 forms of coverage, Institute Class (A), Institute Class (B), and Institute Class (C). The buyer assumes all risk once the goods are on board the vessel for the main carriage; however, they don’t take on any costs until the freight arrives at the named port of destination. 5. buyer. Incoterms CIF is short for "Cost, Insurance and Freight." the carriage of goods to a named destination, plus insurance, the seller’s risk This term is commonly used in bulk cargo, oil and oversized. One major difference is that the UCC rules look at the transfer of ownership, where the ICC Incoterms® look at delivery, cost, and transfer of risk. INCOTERMS are issued by International Chamber of commerce and are the essential part of the sale contracts , ... and CIF ( Cost Insurance and ... transfer the goods from factory premises to … After rigorous mouse clicks and research about both the INCOTERM Rules, we surmise that the two look rather different. the International Chambers of Commerce (ICC), Major Shipping Routes of the World (By Commodities). Both of these will normally show the seller as the “insured” or “assured” and will require the seller to endorse the document on the reverse such that the buyer or any bona fides holder with an insurable interest in the goods at the time of loss or damage occurred can claim. commen calculer l’assurance comprise dans le cif si ass= 0.6% du cif majoré de 10%? The unloading cost is to be covered by the buyer. Qu’est ce que l’incoterm CFR « Cost and Freight »? Organiser le post acheminement des marchandises jusqu’à la destination finale. AIT’s global team of experienced transportation management is well-versed in the Incoterms rules and all shipping terms. This creates a grey area during which cargo could unknowingly suffer damages. Under CIF (short for “Cost, Insurance and Freight”), the seller delivers the goods, cleared for export, onboard the vessel at the port of shipment, pays for the transport of the goods to the port of destination, and also obtains and pays for minimum insurance coverage on the goods through their journey to the named port of destination. – CPT (Carriage Paid to) As with the other “C” rules, a good choice for transactions involving letters of credit. Even though the seller pays for insurance during the main carriage, the risk is transferred to the buyer at the time the goods are on board. It is clearer with CIF, as the seller agrees to purchase marine insurance to cover the journey up to the seaport of destination. Cela diminue donc le risque de l'acheteur puisqu'en cas d'incident pendant le transport principal c'est l'assurance du vendeur qui sera sollicitée.