Definition · Incoterms & logistics

CIF

Cost, Insurance and Freight: the seller pays the freight and minimum insurance up to the arrival port, with the risk passing to the buyer at loading. It provides a port-delivered price convenient for the buyer.

Related terms

CFRCost and Freight: the seller pays the sea freight up to the arrival port, but the risk passes to the buyer at loading. Like CIF, but without the insurance borne by the seller.FOBFree On Board: the incoterm where the seller delivers the goods loaded on board at the departure port (Radès or Sfax) and the buyer then bears freight, insurance and risks. The recommended standard for a first export.IncotermAn international trade rule (ICC Incoterms) defining which of the seller or the buyer bears the costs, risks and formalities at each stage of transport. A wrong choice can wipe out the margin.

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