What CIP Insurance Coverage Actually Means for Buyers If you’re staring at a contract that says “CIP,” the first thing to know is that CIP insurance coverage is not your own policy—it’s a protection the seller buys and pays for,…
When a shipment moves under Cost, Insurance, and Freight (CIF), the CIF insurance value is the amount the marine cargo policy actually covers—and it is not the same as the CIF price on your commercial invoice. In practice, the insured…
What Does CFR Cost and Freight Mean—and What Are CFR Freight Charges? When I first booked a CFR shipment of auto parts from Ningbo to Long Beach, I assumed the seller’s quote covered the container all the way to my…
What the Bunker Adjustment Factor (BAF) Actually Is — and Why It’s Not the Fuel Itself The term bunker refers to the physical marine fuel—traditionally heavy fuel oil, now increasingly VLSFO (very low sulfur fuel oil)—that ocean carriers burn to…