A term used in international trade to identify what is included in a price. CIF means cost, insurance and freight - as the price includes freight and insurance costs to a specified destination.
A pricing term indicating that these costs are included in the quoted price.
The seller has the same obligations as under CFR but with the addition that he has to procure marine insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller pays the insurance premium and is only required to obtain minimum coverage.
As an exporter, you pay the cost of freight and insurance to get the goods to a named port of destination.
Cost, insurance, freight. A pricing term indicating that the cost of the goods, insurance, and freight are included in the quoted price.
Cost, Insurance and Freight. Selling on a CIF basis means that the seller assumes the transportation costs
Standard quotation including the ‘cost, insurance and freight’.
Refers to Cost, Insurance and Freight.
See Cost, Insurance, and Freight
Cost, insurance, freight. A system of valuing imports that includes all costs, insurance, and freight involved in shipping the goods from the port of embarkation to the destination.
Cost Insurance Freight NVOCC Non Vessel Operating Common Carrier
Cost, Insurance, and Freight; cost of transportation and insurance to be paid by the seller of goods to the named point of destination.
(...Named Place of Destination): A Term of Sale where the seller has the same obligations as under the CFR but also has to procure marine insurance against the buyer's risk of loss or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The CIF term requires the seller to clear the goods for export.
Cost, Insurance, and Freight: A term indicating that a quoted price includes the cost of the goods, insurance, and transportation charges.
Under International Rules for the Interpretation of Trade Terms, CIF means cost, insurance and freight and in the context of the Farm it was used to refer to the gross selling price with the seller being responsible for all cost, insurance and freight in getting produce to market.
A contract (international) for the sale of goods where the seller agrees to supply the goods, pay the insurance, and pay the freight charges until the goods reach the destination (usually a port - rather than the actual buyers address). After that point, the responsibility for the goods passes to the buyer.
Cost, Insurance, Freight â€“ the quoted price for the goods including freight and insurance costs delivered to final destination.
Short for cost, insurance and freight. When added to shipping documents, the letters CIF indicate that the agreed price includes the cost of the goods, their insurance in transit and the freight.
Cost, Insurance and Freight - Incoterm. Seller pays transport costs and insurance to named destination.
Cost Insurance and Freight terms‰^'ÀE•ÛŒ¯—¿ž‚Ý“n‚µ'l'iB ”„‚èŽèi—AoŽÒj‘¤‚ªÏ`‚©‚ç—g`‚Ü‚Å‚Ì“–ŠY¤•i‚É‘Î‚·‚é‰^'ÀA•ÛŒ¯—¿‚ð•‰'S‚·‚é”„”ƒðŒB
Cost Insurance Freight. The valuation method used for the calculation of duty and GST.
COST, INSURANCE AND FREIGHT (...named port of destination)
"Cost, insurance and freight." Paid to move a commodity to a port of destination and included in the price quoted.
Cost, Insurance and Freight. Very widely used, this term indicates that the exporter's price includes all charges up to the arrival of the goods at the point of discharge from the vessel including the cost of insuring them against loss or damage whilst in transit. Must be followed by the name of the port of discharge, eg. "CIF Hong Kong". This term should not be used for transport by airfreight or containerised seafreight - see CIP
(Cost, Insurance and Freight) This arrangement similar to CFR, but instead of the buyer insuring the goods for the maritime phase of the voyage, the shipper/seller will insure the merchandise. In this arrangement, the seller usually chooses the forwarder. "Delivery" as above, is accomplished at the port of destination.
Cost, Insurance and Freight. The supplier of the goods pays for insurance and transportation.
Cost, Insurance & Freight (Price of products including insurance and cost of freight up to certain destination port.)
Literally, "cost, insurance, freight," this term refers to a sale in which the buyer agrees to pay a unit price that includes the free-on-board value of the goods at the port of origin, plus all costs for insurance and transportation. This type of transaction differs from a "delivered" agreement in that it generally does not include duty, and the buyer accepts the quantity and quality at the loading port (as certified by the Bill of Lading and Quality Analysis Report), rather than pay according to quantity/quality as determined at the loading port. Risk and title are transferred from the seller to the buyer at the loading port, although the seller is obliged to provide insurance (usually FPA type) in a transferable policy at the time of loading. It is similar to an fob transaction, except that the seller, as a service for which he is compensated, arranges for transportation and insurance.
Abbreviation for "Cost, Insurance, Freight." (Named Port) Same as C&F or CFR except seller also provides insurance to named destination.
Cost, Insurance and Freight. A term of trading in which the buyer of the goods pay for the cost of the goods, the cost of transporting the goods from origin to the port of discharge or final destination and the insurance premium for a maritime insurance policy for the value of the order.
Cost, insurance, freight; selling terms in which the price includes the price of goods plus insurance and shipping charges.