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Bookmark or Share- CIF (Cost, Insurance and Freight) Incoterms® [UPDATED 2024]Cost, Insurance and Freight (CIF) is an Incoterm rule that is identical to the CFR Incoterm rule except in one aspect: insurance. Even though the risk transfers to the seller upon loading the goods on board the vessel, in CIF, the seller is obliged to take out insurance cover for the buyer’s risk.
- CIF Incoterms: What CIF Means and Pricing - Guided ImportsCIF is a Shipping Incoterm that stands for: Cost, Insurance, Freight agreement, with the seller holding responsibility for all three. When purchasing internationally, the seller is responsible for exporting the cargo and shipping it until they arrive at the destination port, while insuring the cargo throughout the voyage.
- Cost, Insurance, and Freight (CIF) Definition, Rules, and ExampleInvestopedia / Katie Kerpel. What Is Cost, Insurance, and Freight (CIF)? Cost, insurance, and freight (CIF) is an international shipping agreement, which represents the charges paid by a seller...
- CIF Incoterms - Cost, Insurance and Freight - Explained - WiseCIF Incoterms® meaning. There are 11 Incoterms® rules in total, and CIF – standing for cost, insurance and freight – is one of four that relate only to waterbound transportation. That means either sea freight or transportation via inland waterways. CIF shouldn’t be used for air or land transportation, or for containerized goods.
- CIF vs. FOB: What's the Difference? - InvestopediaCost, insurance, and freight (CIF) and free on board (FOB) are international shipping agreements used in the transportation of goods between buyers and sellers. They are among the most...
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