Who is responsible to pay Insurance under DPU Inco terms?

Exporter or Importer to arrange Insurance under DPU terms?

When a term DPU stands for Delivered at Place Unloaded, who is liable to take insurance?  Is the Exporter or the Importer under Export Import trade?

Under DPU terms in international trade, the exporter takes care the cost of pre carriage, main carriage and on carriage except destination port customs clearance and import taxes if any.  

Under DPU terms in Inco Terms 2020 does not specify about insurance, neither  importer nor exporter is liable to arrange insurance.  However,  the exporter or importer may arrange insurance on movement of goods as per their agreed contract of carriage included in the sale contract.

So the responsibility of arranging Insurance under DPU terms under Incoterms 2020  is neither with the importer nor with the exporter.

Click here to read latest Inco terms rules for delivery of goods  

Learn practical problems and solutions in Exports and Imports

Click here to read latest Inco terms rules for delivery of goods  

Banking rules related to Exports and Imports in India

How to open Letter of Credit, easily explained here

 

Is it necessary to use trade mark of Incoterms under Sale contract     Mention year of Inco Terms under Sale contract     Inco Terms and Sale Contract between buyer and seller     Inco Terms 2020 Rules for Delivery of Goods         Buyer or Seller? Who pays Insurance under DAP Inco terms?     Who is responsible to pay Insurance under DPU Inco terms?     Who is liable to arrange insurance under CPT terms?     Under FCA Inco terms, Insurance is paid by buyer or seller?     Under EXW Ex works, who arranges Insurance?     04 Categories of Inco Terms 2020     D Category of Delivery terms under Incoterms 2020     C Rules of Delivery terms under Incoterms 2020     F Rules of Inco Terms 2020E Category of Incoterms 2020     Omni Model Inco Terms of Delivery 2020     FOB and CFR under Inco terms 2020    CIF and FOB under Inco terms 2020      


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers