Under CIF terms, the beneficiary of the insurance policy will be endorsed to the buyer. Once the claim is successful, the insurance company's foreign currency compensation will be directly deposited into the buyer's designated overseas company or personal account.
It completely falls under force majeure. After the delivery is completed (crossing the ship's rail) under FOB or CIF terms, the seller (us) bears no liability for refunds or compensation due to political risks or legal changes in the destination country that hinder customs clearance or lead to confiscation.
Chinese customs strictly prohibits the export of assembled or cut vehicles that meet mandatory scrapping standards. Since our pre-inspection is very strict, this situation is highly unlikely. However, if the vehicle is detained and returned by customs due to a policy misjudgment, we will fully refund your deposit without interest, ensuring you bear no policy risk.
