CIF
Logistics
CIF (Cost, Insurance and Freight)
Cost, Insurance and Freight
Sea-freight Incoterm where the seller pays cost, insurance and freight to the named destination port while risk transfers at shipment.
Examples
- 01Under CIF Hamburg, the seller in Shanghai pays freight and insurance to Hamburg, but the buyer carries the risk once goods are on board.
- 02Logistics reviews CIF contracts to check that the seller's insurance coverage is enough for the value of the goods.
- 03Because risk passes at loading under CIF, the buyer adds its own transit insurance for high-value machinery shipments.