What are the legal implications of referring to an outdated version of Incoterms?

Apr 1, 2025 ... CIF (Cost, Insurance, and Freight) Incoterms stipulate that the seller is responsible for arranging and paying for transportation costs and ... Oct 31, 2023 ... DAP (Delivered at Place): With DAP, the seller is responsible for delivering the goods to a named place (usually the buyer's location), paying ... According to the U.S. Commercial Service, “The most common Incoterms are EXW (Ex Works); FOB. (Free On Board); CIF (Cost, Insurance, and Freight); CPT (Carriage ... Oct 15, 2017 ... Under the Incoterms 2010 standard, which was published by the International Chamber of Commerce, the transfer of risk is clearly defined and ... Cost Insurance and Freight (CIF) ... Use of this rule is restricted to goods transported by sea or inland waterway. In practice it should be used for situations ... Nov 15, 2023 ... CIF-Costs, Insurance, and Freight- is another popular incoterm that can only be used for ocean freight or inland waterway shipments. CIF (Cost, Insurance, and Freight) and FOB (Free On Board) are both shipping terms, used to define the responsibilities and obligations of the buyer and seller. The Cost, Insurance and Freight (CIF) incoterms means the seller (exporter) is responsible for delivering the goods onto the vessel of transport and clearing ... Jun 10, 2024 ... Under CIF, the seller is responsible for obtaining insurance coverage for the goods during transit. This ensures that the buyer is protected in ... Aug 13, 2024 ... Under CIF (Cost, Insurance, and Freight) terms, this includes the price of the goods, freight charges, insurance, and any other costs incurred ...