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.

If there is a minor leak in the lines due to bumps, it is possible that the cooling may not work upon arrival. This is a normal physical loss. The cost of vacuuming, pressure testing, and recharging refrigerant at a local auto repair shop is low and is the buyer's responsibility.

It is extremely dangerous and usually not allowed. This can easily trigger the anti-money laundering (AML) controls of China's foreign exchange administration. The remittance account title must closely match the contract buyer and the bill of lading consignee. If payment on behalf is necessary, a legally binding "Tripartite Payment Agreement" must be provided in advance and undergo compliance review by our finance department.