Payments, insurance and risk: your questions, answered
Getting paid, paying safely and covering the cargo.
- Check a buyer or supplier before you pay or ship.
- Choose payment terms that match the risk.
- Insure the cargo. The Incoterm tells you who must.
- Know what an IDPMS error means.
How do I check a buyer or supplier?
Verify the company, its address and its track record before money moves.
Which payment terms are safest?
It depends on your trust and your bargaining power.
Who must insure the cargo?
The Incoterm in your contract decides.
Our page explains the cover and how to choose it.
Did you know? The ship that blocked a canal
Q. What happened in March 2021? The Ever Given, a container ship 400 metres long, ran aground in the Suez Canal on 23 March 2021 and was refloated on 29 March.
Q. What did it show? More than 430 ships waited at the two ends of the canal. One delay on a sea route can hold up many importers at once.
Illustration, not a photograph.What is an IDPMS error?
The bank system that matches import payments to Bills of Entry shows a mismatch.
What if goods arrive damaged or not as ordered?
Keep the evidence and tell the insurer and the supplier at once.
Quality complaints can also go to DGFT.
Not sure how this applies to your shipment? Send us the product and the route. A call or a message is all it takes, and we are with you at every step of the way, whether you are importing or exporting.
Multimodal Logistic Systems Pvt. Ltd., Pune, India. Written by Shankar Jha. We are consultants, not a law firm. This page is general information.