Transportation
CIF (Cost, Insurance, and Freight)
An international trade term indicating that the seller pays for cost, insurance, and freight to a destination port.
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Updated 2025-10-01
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
Overview
CIF is widely used in international trade contracts to define responsibilities between buyers and sellers.
Seller Responsibilities
- Product cost
- Insurance coverage
- Freight transportation to the destination port
Buyer Responsibilities
- Import duties
- Unloading charges
- Local transport after the port
Example
A supplier ships electronics from China to Germany under CIF terms, covering all shipping costs and insurance.
Tags
#CIF#Incoterms#Shipping#International Trade
Related Terms
FOB (Free On Board)
EXW (Ex Works)
DDP Shipping
