If an exporter gets an Export LC for shipment of RMG with the term/condition ‘CIF Chicago’, what will be the responsibility of the exporter?
26/05/16 at 10:30 am
If the shipment condition states, say for example, CIF Chicago, it means that the exporter will have to bear all costs (costs, insurance and freight) that are incurred in order for the cargo to reach Chicago (its port of destination).
[This is for informational purposes only. In case of contradiction of conflict with relevant Act/Rules, provisions mentioned
or referred to in the said Act/Rules shall prevail.]