CIF Incoterm (Cost, Insurance and Freight)

CIF — Cost, Insurance and Freight (Incoterms 2020) What CIF means. CIF stands for Cost, Insurance and Freight. As CFR with minimum insurance cover arranged by the seller; sea carriage only. Risk and cost are separate questions. Incoterms allocate cost and risk independently, and the point where risk transfers is often not the point where the seller stops paying. Disputes usually arise from assuming the two move together, or from using a maritime term for containerised cargo handed over at a terminal rather than loaded across the ship's rail. Getting the term right. Frequently Asked Questions. Estimate landed cost under this term.

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