Unless otherwise stipulated in the Credit， the minimum amount for which the insurance document must

indicate the insurance cover to have been effected is the CIF[cost，insurance and freight(… “named port of destination”)] or CIP[ carriage and insurance paid to(…“name place of destination”)]value of the goods，as the case may be， plus 10%， but only when the CIF or CIP value can be determinedfrom the documents on their face. Otherwise， banks will accept as such minimum amount 110% of the amount for which payment，acceptance or negotiation is requested under the Credit，or 110% of the gross amount of the invoice，whichever is the greater.