Insurance
Insurance
Export Credit Insurance
It is good practice to insure your export orders against non-payment, even if your customer is a well-known or reputable company in a low-risk country. Your chosen insurance company will cover the payment risks involved in international trade and provide you with an important safety net.
Cargo Insurance
Cargo Insurance covers loss or physical damage to goods whilst in transit. The Incoterm specified in your contract of sale will determine who is responsible for arranging this cover. Only under CIF and CIP will you be obliged to arrange cover, in which case you should build this cost into the selling price.
One of the main benefits of arranging insurance for your customer is the control you have over the process should a claim arise. If you are not responsible for Cargo Insurance you have the option of Cargo Insurance Contingency Cover for cases where cargo arrives damaged and the importer refuses to accept it. Insurance companies generally provide Cargo Insurance through the freight forwarder, or other trade intermediaries.
Tags
export credit insurance trade intermediaries sitpro cargo insurance insurance insurance export orders incoterm reputable company freight forwarder insurance companies insurance company contingency international trade insurance risk
Export Credit Insurance
It is good practice to insure your export orders against non-payment, even if your customer is a well-known or reputable company in a low-risk country. Your chosen insurance company will cover the payment risks involved in international trade and provide you with an important safety net.
Cargo Insurance
Cargo Insurance covers loss or physical damage to goods whilst in transit. The Incoterm specified in your contract of sale will determine who is responsible for arranging this cover. Only under CIF and CIP will you be obliged to arrange cover, in which case you should build this cost into the selling price.
One of the main benefits of arranging insurance for your customer is the control you have over the process should a claim arise. If you are not responsible for Cargo Insurance you have the option of Cargo Insurance Contingency Cover for cases where cargo arrives damaged and the importer refuses to accept it. Insurance companies generally provide Cargo Insurance through the freight forwarder, or other trade intermediaries.
Tags
export credit insurance trade intermediaries sitpro cargo insurance insurance insurance export orders incoterm reputable company freight forwarder insurance companies insurance company contingency international trade insurance risk
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