https://www.taxtmi.com/forum/issue?id=110547 Under CIF (cost, insurance and freight) terms the seller procures and pays for transit insurance to the named destination; insurers can often arrange local payment through branches or agents so claims payable in the buyer's country may be possible with additional charges. Transit insurance under CIF is intended to cover loss or damage during carriage and after unloading into CFS, subject to the policy's insured risks. Insurance cost is borne by the seller, and the party holding the insured interest (typically the buyer after risk passes) is normally the practical recipient of any settlement, subject to insurer procedures. en-us Tue, 21 Jun 2016 12:49:01 +0530 Thu, 23 Jan 2025 15:56:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110547 Under CIF (cost, insurance and freight) terms the seller procures and pays for transit insurance to the named destination; insurers can often arrange local payment through branches or agents so claims payable in the buyer's country may be possible with additional charges. Transit insurance under CIF is intended to cover loss or damage during carriage and after unloading into CFS, subject to the policy's insured risks. Insurance cost is borne by the seller, and the party holding the insured interest (typically the buyer after risk passes) is normally the practical recipient of any settlement, subject to insurer procedures. Discussion-Forum Indian Laws Tue, 21 Jun 2016 12:49:01 +0530 https://www.taxtmi.com/forum/issue?id=110547