Logistics
International Cargo Insurance
Also known as: Marine cargo insurance, Transit insurance
A contract protecting goods owners against financial losses from damage, theft, or total loss during international transportation.
Also known as: Marine cargo insurance, Transit insurance
A contract protecting goods owners against financial losses from damage, theft, or total loss during international transportation.
International cargo insurance provides financial protection covering goods against risks during transport between countries. Coverage options include all risks, which covers virtually any event, or named perils, which covers only specifically listed events.
Cargo Insurance Policy
An insurance contract covering risks of loss or damage to goods during international transport by sea, air, or land.
LogisticsCIF (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.
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.
LogisticsIncoterms
International rules published by the International Chamber of Commerce (ICC) defining buyer and seller responsibilities for transport and delivery of goods.