Warehouse & Logistics Encyclopedia
Your comprehensive guide to warehouse, logistics, and supply chain terminology. Explore over 100+ industry terms with detailed explanations and practical insights.
CIF (Cost, Insurance, and Freight)
An international trade term indicating that the seller pays for cost, insurance, and freight to a destination port.
Definition
CIF defines a shipping agreement where the seller is responsible for the goods' cost, insurance, and freight charges to the port of destination.
Overview
CIF is widely used in international trade contracts to define responsibilities between buyers and sellers.
Role
An international trade term indicating that the seller pays for cost, insurance, and freight to a destination port.
Focus
CIF is widely used in international trade contracts to define responsibilities between buyers and sellers.
Example
A supplier ships electronics from China to Germany under CIF terms, covering all shipping costs and insurance.
FAQs
Q: Can you give an example of CIF (Cost, Insurance, and Freight)?
A: A supplier ships electronics from China to Germany under CIF terms, covering all shipping costs and insurance.