Did You Know? Incoterm
When we cover for Marine Cargo Insurance, we often familiar with the Incoterm. But, what is Incoterm?
It is a set of international rules published by the ICC (International Chambers of Commerce) in Paris, for interpretation of most commonly use trade terms in foreign & domestic trade and also as outlines obligations of the buyer & seller namely:
- export & import clearance
- insurance & cost of carriage
- costs of loading, discharging
- transfer of risks
We do hope the above information can help you to understand and enrich your knowledge about Incoterm.
Subsequently, for your convienent, kindly review your policy to ensure that the coverage provided is suitable with your need. Shall there is any changes required on the information of your personal details, scope of coverage, or you need other information or clarification about term and condition of your policy, please feel free to contact us at 021 - 2523110 and we would be pleased to assists you.
