CIF
Seller-pays-shipping term
CIF is a commercial shipping term meaning "cost, insurance, and freight"—the seller's price includes delivery to a destination port with insurance coverage.
The quote was $12,000 CIF Los Angeles.
CIF contracts place risk on the seller until goods reach the destination, unlike FOB terms where risk transfers at the origin port.
One who acquires things
- sellerOne who trades goods
- contractEnforceable written agreement
- purchaseGoods obtained for payment
- invoiceItemized billing statement
payment · goods · shipment · delivery · transaction · negotiation · terms · agreement
Goods being transported
- cargoTransported goods
- containerThing for storing items
- vesselReceptacle for contents
- portDocking place for ships
maritime · consignment · bill of lading · manifest · stevedoring · lading · harbor · dock
Obtain from overseas
- exportForeign-bound sale
- dutyRequired moral task
- tariffTax on traded goods
- customsTraditional practices or import taxes
clearance · documentation · declaration · valuation · assessment · border · regulation · quota
Required payment amount
- insuranceContractual risk coverage
- freightGoods being transported
- FOBOwnership transfer designation
- DAPSeller-to-destination shipping agreement
trade terms · destination · pricing · quotation · standard terms
buyer
One who acquires things
invoice · payment · goods · shipment · delivery · transaction · negotiation · terms · agreement · pricing
freight
Goods being transported
port · maritime · consignment · bill of lading · manifest · stevedoring · lading · harbor · dock · quay
import
Obtain from overseas
customs · clearance · documentation · declaration · valuation · assessment · border · regulation · quota · exemption
cost
Required payment amount
DAP · trade terms · destination · pricing · quotation · standard terms