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.
Our FOB vehicle quotes are typically valid for 72 hours (as domestic retail vehicle sources can be sold at any time); sea freight quotes are valid for 7 to 14 days (depending on shipping line changes). After expiration, prices need to be recalculated based on real-time exchange rates and domestic procurement conditions.
Our freight rate quotes have a clear validity period. If the buyer delays the deposit payment and misses the scheduled price lock, the GRI (General Rate Increase) charged by the shipping company must be fully covered by the buyer before booking and loading can be arranged.
