CIF is an abbreviation for Cost, Insurance, Freight. CIF is a way of sharing the cost and risk share between importer and exporter within the framework of the so-called Incoterms in the context of international trade in goods. With CIF, the exporter pays all loading fees and insurance until the goods arrive at the port of destination. The importer bears all risks from the moment the goods cross the railing of the sea-going vessel at the port of shipment.
« Back to Glossary IndexTax ID No.
«Back to Glossary Index