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Cost, Insurance and Freight

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Cost, Insurance and Freight
A CPT involving ocean freight. In a CIF, the seller is responsible for paying for shipping and providing a minimum amount of insurance coverage up to the named port of destination, while the buyer is responsible for the transportation risk beyond the minimum coverage as soon as the good or product is loaded onto the ship. Legally, risk transfers when the good or product crosses the outer rail of the ship. A CIF is similar to a CFR, but also requires the seller to provide minimal insurance. See also: Incoterm.


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ANSWERS 1 The value of goods including cost, insurance and freight charges; 2 Flying officer; 3 Mongolia; 4 The Merry Wives Of Windsor; 5 Pomegranate.
ANSWERS: 1 The value of goods including cost, insurance and freight charges; 2 Flying officer; 3 Mongolia; 4 The Merry Wives Of Windsor; 5 Pomegranate; 6 A scale with only five notes; 7 Arizona; 8 Belief in many gods; 9 Authorized; 10 Conduction, convection and radiation.
During the first two weeks of January, the average international price of hot rolled steel has increased from the level of $400 per ton to $440, including production cost, insurance and freight.
 
 
 
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