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Please help me to explain this case. Thanks a million!
The case is, Buyer and Seller trades following CIF Incoterms 2010, L/C applied UCP600 which just require to buy insurance for a minimum 110%CIF. So, could the exporter buy insurance with value more than 110%CIF (the buyer ask to sell the shipment for another). And if can buy more than that value, how much value is the maximum?
The case is, Buyer and Seller trades following CIF Incoterms 2010, L/C applied UCP600 which just require to buy insurance for a minimum 110%CIF. So, could the exporter buy insurance with value more than 110%CIF (the buyer ask to sell the shipment for another). And if can buy more than that value, how much value is the maximum?