CIF

CIF is an abbreviation for Cost, Insurance, Freight. CIF is a way of dividing the costs and risks between the importer and exporter in the context of international trade in goods within the framework of the so-called Incoterms. With CIF, the exporter bears all loading fees and insurance incurred up to the arrival of the goods at the port of destination. The importer bears all risks from the moment the goods cross the railing of the ocean-going vessel at the port of shipment.