CIF Meaning

CIF is the term used in the context of international trade when the goods have to be shipped from one country to another country; full form of CIF is cost, insurance and freight. It means that all expense related to cost, insurance and freight of goods will be paid by seller and not the buyer. This applies only till the shipment reaches its destination which is at the port, after that it is the buyer who is responsible for those goods and all expenses will have to be borne by him or her.

0 comments… add one

Leave a Comment