Cost, Insurance and Freight (CIF)

Cost, Insurance and Freight signify that the seller is responsible for the cost, insurance and freight charges of the goods while it is in transit.

What is Cost, Insurance and Freight (CIF) ?
Cost, Insurance and Freight means that the seller has to cover the costs, insurance and freight charges of a buyer’s order until the goods are fully loaded onto a vessel. Once the goods are loaded, the goods become the responsibility of the buyer.