CIF Shipment Delayed – Can The Seller Ask For A Hold?
If you’ve ever had to wait for a delivery that was shipped using the CIF (cost, insurance and freight) method, then you know that it can be nerve-wracking. The buyer takes on all the risks associated with this shipping method because they take responsibility for the transportation costs and cover any additional damage. CIF is often used for international trade and shipment between two different locations. There are certain situations where a seller has the right to ask for a hold of the shipment: if it’s been overdue for more than 3 months, if there is no guarantee of arrival, or if the items are perishable. Here’s how to tell if your shipment qualifies for a hold.
CIF Shipment Delayed – Can The Seller Ask For A Hold? Let’s break it down for you.
The CIF shipping method is one of the most popular methods for international trade. It is also often used in two-party domestic shipments. The buyer takes on all the risks associated with this shipping method because they take responsibility for the transportation costs and cover any additional damage.
The seller may ask for a hold if the shipment is overdue.
If your shipment has been overdue for more than 3 months, then you can ask for a hold. Another situation where you might be able to request a hold is if there is no guarantee of arrival. What does this mean? There are some risk-free shipping methods where the seller won’t have to worry about any additional damage or costs associated with transporting items. But if there’s no guarantee of arrival, like with CIF, the seller might be able to ask for a hold of the shipment if they want to wait longer before it arrives. This will allow them to avoid paying any additional expenses that are associated with international trade. Lastly, if the items are perishable then the seller might be able to put in a request for a hold on their item because there’s an issue that needs clarification or clarification so they can ship perishable goods successfully.
If the shipment has been delayed for more than 3 months
If your shipment is delayed for more than 3 months, the seller has the right to ask for a hold. If there is no guarantee that it will arrive in a timely manner, or if the items are perishable, you can ask for a hold.
If there is no guarantee of arrival
If your shipment is overdue for more than 3 months, the seller has the right to ask for a hold on the shipment. You can request this hold with the shipping company or freight forwarder. If your shipment is perishable, it may qualify for a hold. For example, if you’re selling produce and it’s late in the season, then that produce could become unusable if it doesn’t arrive soon enough. You can also consider asking for a hold on shipments that are damaged or missing items.
If the items are perishable.
If you’re shipping items that are perishable, such as food, then the seller has the right to ask for a hold. This is because there is no guarantee that the delivery will be on time and therefore damage or ruin the item.
Know more about shipping/ logistics industry by checking out our previous article on Top 5 Reasons Why You Should Store Your Bills of Lading
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