Q&A: What is the CIF Term?

CIF —— Cost Insurance and Freight

The seller has responsibility for the cost of the goods in transit, providing minimum insurance and paying freight charges to move the goods to a destination chosen by the buyer.

The seller also needs to provide the buyer with the documents necessary to obtain the goods from the carrier

From the point of delivery at the destination, the buyer assumes responsibility for unloading charges and any further shipping costs to a final destination.

It is also important to note that the term applies only to sea and inland waterway transport

Chosen from https://www.investopedia.com/terms/c/cif.asp