One country can earn foreign currency and national trade can be improved by  implementing cost, insurance and freight (CIF) contract on  export and free on board contract (FOB).import. Also the country can  increase its export turnover and reduce its import turnover, thereby improving its international trade balance.

Moreover there is another issue is that about the third party, who is the shipper. If any the goods damaged by the stevedores during loading the goods on ship, then who will take the responsibility. Is the responsibility goes to the carrier company for the mistake of their employee? If it is CIF contract, then once the goods cross the ship rails then the damages will go to the buyer. But later on buyer can claim damages to the insurance company. I think, this is the most complicated area of CIF contract, because here the third party carrier company is related, insurance company is related as well as the seller can be face damages, if he could not get the goods delivered on due time.

Sorry folks there wee some typing mistake in my previous article.