1. Under the C.I.F. term, an exporter or representative is required to arrange cargo insurance. To apply for an insurance coverage, the following documents have to be submitted to an insurance company. o Cargo Insurance Application Form o Letter of Credit o Commercial Invoice o Packing List o Draft Bill of Lading 2. Based on the submitted documents, an insurance company decides whether or not to provide the insurance coverage. An insurance company issues Cover Note for the to-be-insured consignment. 3 Once receives a transport contract or Bill of Lading from an exporter or representative, an insurance company issues Insurance Policy.
