Who has to arrange for Marine Cargo insurance-the buyer or the seller? Or do both need some protection?
This depends on the Sale Contract the two enter into. For each Sale Term such as Free on Board (FOB), Cost and Freight (C&F), Cost Insurance and Freight (CIF) etc, the responsibility for arranging for insurance varies.
Who has to arrange for Marine Cargo insurance-the buyer or the seller? Or do both need some protection?
This depends on the Sale Contract the two enter into. For each Sale Term such as Free on Board (FOB), Cost and Freight (C&F), Cost Insurance and Freight (CIF) etc, the responsibility for arranging for insurance varies.