Documents
Cargo Insurance Policy
Also known as: Marine insurance policy, Transport insurance
An insurance contract covering risks of loss or damage to goods during international transport by sea, air, or land.
Also known as: Marine insurance policy, Transport insurance
An insurance contract covering risks of loss or damage to goods during international transport by sea, air, or land.
A cargo insurance policy protects the goods owner against risks of loss, damage, or theft during international transport. The insurance amount forms part of the customs value under CIF terms and may be required documentation during customs clearance.
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Learn more→CIF (Cost, Insurance and Freight)
An Incoterm indicating that the seller assumes the costs of ocean freight and insurance to the agreed destination port, although the risk of loss or damage transfers to the buyer upon shipment.
LogisticsIncoterms
International rules published by the International Chamber of Commerce (ICC) defining buyer and seller responsibilities for transport and delivery of goods.
TradeCustoms Value
The monetary amount on which import duties are calculated, determined according to the WTO Valuation Agreement with transaction value as the primary method.
ValuationDutiable Charges (Assists)
Costs and values that must be added to the price actually paid or payable for imported goods to determine customs value, including commissions, packing, assists, royalties, licenses, and certain transport and insurance costs not included in the invoice price.
DocumentsTransport Document
A generic document covering the movement of goods by any mode of transport (sea, air, land, or rail) that is an indispensable requirement for customs clearance.