The possibility that an event may ocur which could cause loss of or damage to the goods is a “risk”. Buyers and/or sellers can protect themselves gainst risks by transport-insurance.
Covers all costs except costs of documents. Sales and purchase contracts should clearly state which costs on transfer of the goods are for account of buyer and/or seller.
Transport insurance is the responsibility of the seller.
Remark: For detailed explanation reference is made to International Chamber of Commerce (ICC) publication INCOTERMS® 2020. This document is provided to our customers for informational purposes only. Please refer to the official text of the ICC for a full and detailed description of all rights and liabilities arising from the use of the aforementioned Incoterms (https://iccwbo.org)