What is the difference between an original bill of lading and a seaway bill under CIF?

Comparing INCOTERMS® 2020 Rules and UCC Shipping Terms (FOB, FAS, and CIF). by Practical Law Commercial Transactions, with Melissa Proctor, Proctor Miller. Nov 16, 2016 ... International contracts typically contain shorthand terms (Incoterms) describing when the risk of loss transfers from a seller to a buyer. Nov 10, 2020 ... It's important to note that unlike CFR, where the risk rolls over to the buyer when the goods are loaded, with CIF terms, the seller is liable ... CIF stands for “Cost, Insurance and Freight”. It is an international shipping agreement which clarifies responsibilities of buyer and sellers. Under the terms of the CIF, the seller is liable for taking out insurance. Insurance against loss of or damage to goods must be contained at least to the port ... Jan 19, 2023 ... Incoterms make global trade easier, clearer and more efficient for ... CIF - Cost Insurance and Freight (insert named port of destination). 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. If the Incoterm used was CIF, the responsibility to pay for insurance and freight charges falls on the seller. The seller should have also provided all shipping ... Under the CIF Incoterm, the seller agrees to 1) pay for all the costs related to moving goods to a destination port of the buyer's choosing and 2) insure the ... DDP and CIF are two most used incoterms in shipping. The Seller's task in DDP, for DDP VS CIF. DDP considers the maximum duty for the Seller, ...