The seller clears the goods for export and pays the cost of moving the goods to the port of destination.The buyer bears all the risks of loss and damage.The seller, however, purchases the cargo insurance.
A)EXW
B)FCA
C)FOB
D)CFR
E)CIF

Question

Quizplus · Accepted Answer

CIF (Cost, Insurance, and Freight) is the term that best matches the description. Under CIF, the seller clears the goods for export, pays for transportation to the port of destination, and purchases cargo insurance, while the buyer bears the risk of loss or damage once the goods are onboard the ship.

The Seller Clears the Goods for Export and Pays the Cost