What is Risk Transfer?
Risk Transfer The contractual point at which responsibility for cargo risk passes from seller to buyer, defined by Incoterms.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Risk Transfer” Used in Practice?
Under Incoterms FOB, risk transfer occurs when goods cross the ship’s rail at the port of shipment.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Risk Transfer?
The contractual point at which responsibility for cargo risk passes from seller to buyer, defined by Incoterms.
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