Proof of Export

[Munish Upadhyay]

Dear Sir,

If the Eco term in shipping bill is CIF but the exporter does not have insurance policy, than what to do if bank ask for policy with export proof.

AI Summary

Exporter Clarification: Inform Bank if Shipping on C&F Basis; No Insurance Policy Required Under CIF Terms An individual inquired about the procedure when an exporter uses CIF terms in a shipping bill but lacks an insurance policy, and the bank requests it as proof of export. A respondent clarified that if the export is conducted on a C&F basis, the exporter should inform the bank accordingly, as the insurance policy is not provided by the exporter in such cases.