A company sends a product from Spain to the United States under the term CIF Incoterms 2010:
Question:
A company sends a product from Spain to the United States under the term CIF Incoterms 2010: Cost Insurance and Freight. The product is shipped, however, upon arrival at the destination, customs notifies that there is a long delay in the inspections and that the merchandise will take a few days, and the merchandise is kept in a warehouse that must be paid for its use, and the total cost of it is $1,000 USD. Finally, the merchandise is reviewed and delivered to the destination.
Who should pay for the additional destination warehouse?
Who should have established the deadlines, place of delivery, and those responsible for the contract?
If it is a specialized cargo and the buyer does not want to deal with the expenses in the port and maneuvers. Which Incoterms 2010 CCI should I select?
Who is responsible for paying the taxes at the product's destination when using CIF Incoterms 2010 CCI?
Expert Answer:
CIF Incoterms and Warehouse Costs Destination Warehouse Under CIF Incoterms 2010 the seller is responsible for the costs up to the named port of desti... View the full answer
