Cost Insurance Freight (CIF)

Definition

Under a cost insurance freight (CIF) contract, the risk of loss or damage to goods is transferred to the buyer once the goods have passed the ship’s rail. But the seller has to pay the expense of transportation for the goods up to the port of destination, including the expense of insurance.[1]

See also

 

References

  1. ^ American Marketing Association, AMA Dictionary. (May 2015)

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