What term describes the seller's responsibility for cargo damage during shipment in Ocean Marine insurance?

In the context of Ocean Marine insurance, the term that best describes the seller's responsibility for cargo damage during shipment is "Cost, Insurance, and Freight" (CIF). This term indicates that the seller is responsible for covering the costs associated with transporting the goods, including the insurance and freight charges, until the goods reach the designated port of destination. This implies that while the cargo is in transit, the seller bears the risk of loss or damage, ensuring that the goods are insured against possible hazards of shipment.

The CIF designation is important because it clarifies the extent of liability and responsibility for both the seller and buyer during transportation. By including insurance in the terms, it protects the buyer from potential losses during the shipment process, a critical aspect in marine insurance contexts.

Other terms like Free on Board (FOB), Warehouse to Warehouse, and Delivered Duty Paid each have different implications regarding responsibilities and risk transfer, focusing on various aspects of shipping, but CIF specifically addresses the seller's duty regarding cargo damage throughout the shipping journey.