Applicant name / Years in business
Address / Post code
Description of business
Type of merchandise
Method of packaging / Are containers opened whilst in transit? / NoYes
Principal points of shipment
Principal points of destination
Value per shipping package / Average / £ / Maximum / £
Value per container / Average / £ / Maximum / £
Maximum value shipped / Any one vessel / £ / Any one aircraft / £
Total annual value of merchandise shipped / Any one vessel / £ / Any one aircraft / £
Basis of valuation / Other - please defineCost, insurance and freight plus 10%Cost, insurance and freight plus 15%Cost, insurance and freight plus 20%Cost, insurance and freight plus 25%Free on BoardEx-WorksCost and Freight plus 10%Cost and Freight plus 15%Cost and Freight plus 20%Cost and Freight plus 25%Delivered at Place (Delivered Duties Unpaid)Delivered Duties Paid
Additional covers (if selected please provide underwriting information)
Domestic transit / Warehouse storage / Sales samples / Export contingency
Engineers tools / Exhibitions
Current insurer / Expiring premium / £
Claims history (5 years)
Year / Premium / Losses paid & outstanding / recoveries / No. of claims
£ / £ / £
£ / £ / £
£ / £ / £
£ / £ / £
£ / £ / £
Glossary
EXW = Ex-Works: This is where the seller of the goods has no involvement at all with the transportation costs or risks (i.e. damage in transit). They simply make the goods available to the buyer for collection at their site. It is then the buyer's responsibility to collect the goods from the seller and get them back to the UK, the buyer also bears all of the risks from the moment the goods are collected so insurance is advisable. This is quite a common sales term for intra European movements by trailer, but is best avoided for and sea or air freight movements.
FOB = Free On Board: This is where the seller is responsible for the costs and risks of getting the goods on board the ship. Once the goods are loaded on the ship, the costs and risks then transfer to the buyer. So this means the buyer will pay the ocean freight from the port of origin, plus all of the other transport charges, customs clearance cost etc to get the goods back to their site in the UK. Again as the risks pass to the buyer once the goods are on the vessel, insurance is always advisable.
CFR = Cost and Freight: The seller is responsible for the costs (but not the risks) up until the goods arrive in the UK port. The buyer then has to pay all of the costs to get the goods from the port to their premises.
CIF = Cost, Insurance and Freight: This is like CFR but the seller also bears the risks up until the goods arrive in the UK port. Therefore they insure the goods whilst they are on the ship.
DAP = Delivered at Place (formerly Delivered Duties Unpaid): The seller is responsible for getting the goods all of they way from their factory to a named place at destination (usually the buyers premises) but are not responsible for customs clearance or payment of import duty / vat. The seller also bears all of the risks.
DDP = Delivered Duties Paid: This is like DAP but the seller is also responsible for the customs clearance at destination, and payment of duties / taxes. Some small courier shipments will travel this way.
Source - UK Business Forums