{"id":371,"date":"2023-11-05T09:47:03","date_gmt":"2023-11-05T06:17:03","guid":{"rendered":"https:\/\/ikadco.com\/en\/?p=371"},"modified":"2023-11-05T09:47:03","modified_gmt":"2023-11-05T06:17:03","slug":"different-level-of-insurance-cover-between-cif-and-cip","status":"publish","type":"post","link":"http:\/\/ikadco.com\/en\/different-level-of-insurance-cover-between-cif-and-cip\/","title":{"rendered":"Different level of insurance cover between CIF and CIP"},"content":{"rendered":"<p>CIF and CIP are the only two Incoterms\u00ae that require the seller to purchase insurance in the buyer\u2019s name.\u00a0 Under Incoterms\u00ae 2010 the insurance cover for both CIF and CIP was required under Institute Cargo Clause C. Under the new Incoterms\u00ae 2020, CIP requires insurance cover complying with Institute Cargo Clause A.\u00a0 Clause A covers a more comprehensive level of insurance which is usually suitable for manufactured goods, where Clause C would likely apply to commodities.<\/p>\n<p>In summary:<\/p>\n<ul>\n<li>CIF remains the same, it requires\u00a0<strong>\u2018Institute Cargo Clause C\u2019<\/strong>\u00a0insurance cover \u2013 Number of listed risks, subject to itemized exclusions.<\/li>\n<li>CIP now requires an upgraded\u00a0<strong>\u2018Institute Cargo Clause A\u2019<\/strong>\u00a0insurance cover \u2013 All risk, subject to itemized exclusions.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: right;\"><a href=\"https:\/\/incodocs.com\/\">Article Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CIF and CIP are the only two Incoterms\u00ae that require the seller to purchase insurance in the buyer\u2019s name.\u00a0 Under Incoterms\u00ae 2010 the insurance cover for<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":2,"featured_media":372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[10,9,8,11],"class_list":["post-371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-import-and-export","tag-import-and-export-law","tag-import-and-export-law-in-iran","tag-law-in-iran"],"_links":{"self":[{"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/posts\/371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/comments?post=371"}],"version-history":[{"count":1,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/posts\/371\/revisions"}],"predecessor-version":[{"id":373,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/posts\/371\/revisions\/373"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/media\/372"}],"wp:attachment":[{"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/media?parent=371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/categories?post=371"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ikadco.com\/en\/wp-json\/wp\/v2\/tags?post=371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}