WHAT IS CIF

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WHAT IS CIF

• WHAT IS CIF
• CIF is short form of Cost, Insurance and
  Freight. Like the CFR this incoterm is also
  exclusively used for shipping. Also like the CFR
  CIF is used for bulk goods and non containerised
  shipments.
• This indicates that the seller is responsible for
  the cost as well as the freight of the goods to
  the destination port which is decided by the
  buyer. In addition to all of this the seller must
  also provide insurance for the goods being
  transported. In CIF the risk transfer point is
  also different from other incoterms. The risk
  transfer point is not the same cost transfer
  point as is the case with other incoterms. Under
  CIF the risk is transferred when the goods get
  loaded on the ship at the origin of the shipment.

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WHAT IS CIF
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WHAT IS CIF

• The seller is obliged to give insurance to the
  goods and deliver the shipment and the documents
  required. He or she must also take care of the
  packaging and the wrapping. Inland transportation
  and customs clearance at the country of origin is
  also handled by the seller. Also the seller pays
  for the international freight.
• The buyer is relaxed from covering the insurance
  of the goods under CIF but has to pay for the
  goods. The buyer is also obliged to pay arrival
  expenditures and customs clearance. The buyers
  obligations also include inland transportation at
  the destination country and payment of fees.
• KNOW MORE ABOUT-WHAT IS CIF
• READ MORE-Freight Forwarding Online, Buy Sell
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