Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A seller is arranging insurance for a shipment sold CIP Incoterms 2020. The seller has tried several times to obtain information from the buyer regarding


A seller is arranging insurance for a shipment sold CIP Incoterms 2020. The seller has tried several times to obtain information from the buyer regarding the coverage required. Time has run out and the seller must provide this information to the freight forwarder to prepare the insurance certificate. 

What coverage is the seller required to obtain on the buyer's behalf?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

In a CIP Carriage and Insurance Paid To transaction under Incoterms 2020 the seller i... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these Accounting questions

Question

You own a stock portfolio invested 15 percent in Stock Q, 20

Answered: 1 week ago