Define the scope of insurance made by the seller in the CIF & CIP incoterms 2010.

CIF,Cost insurance insurance and freight,ordinary exporter or seller`s risk end at good exit port,the reversed is the case until the goods crosses the rail of the importer before risk is abated,i.e seller Produces the goods and commercial documents as required by the sales contract.2) Arranges for export clearance and all export formalities.3) Arranges and pays for all costs for the transportation of the goods up to the named port of destination.4) Assumes all risk to the goods (loss or damage) only up to the point they have been carried to the port of destination and ends the moment the goods pass the ship’s rail at port of destination.5) Seller must advise the buyer of the location and time that goods have been delivered onto the named vessel.6) Seller has to provide the buyer with transport documents that will allow the buyer to take possession of the goods at the named port of destination.Buyer’s Responsibilities:1) Buyer must pay for the goods as per the nominal  sale contract2) Buyer must obtain all commercial documentation, licenses, and authorizations required for import and arrange for import clearance and formalities at own risk and cost.3) Buyer takes delivery of the goods after they have been delivered by the seller to the named port of destination.4) Buyer must assume all risks for the goods from the time the goods pass the ship’s rail at port of destination to delivery into the buyer’s warehouse or other specified location. SPECIAL NOTE: While the seller is obligated to insure the goods and is legally responsible for the goods up to the port of destination, the buyer may have a vested interest in the goods during the voyage. It may be a wise decision for the buyer to purchase additional insurance coverage in the case of a loss.5) Buyer pays for all costs of transportation, import customs formalities and duty fees, and all other formalities and charges related to the transportation of the shipment from the time the goods have been delivered to the named port of destination.6) Buyer would accept the seller’s transport documents provided they conform with the sales contract and will allow the buyer to take possession of the goods after arrival at the named port of destination.