Insurance? Doesn’t someone else deal with that?
Not necessarily – it depends on which Incoterms apply. Our industry experts explain what you need to know and when control and liability pass from seller to buyer.
Below is a sneak preview:
As control, ownership and liability do not necessarily transfer from seller to buyer simultaneously, it’s important to be aware of when you take on or hand over risk, in other words when the responsibility for insuring the goods transfers to you from the other party in the transaction or vice-versa. This may not happen when you think it does – indeed it may be much earlier, or much later.
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