CIF

- May 12, 2020-

CIF

Cost, Insurance and Freight (insert named port of destination, the components of the price of goods include the general freight and the agreed insurance fee from the port of shipment to the agreed destination port, so the seller has the same obligations as the CFR terminology, but also To carry out freight insurance for the buyer and pay insurance premiums, according to general international trade practices, the amount of insurance insured by the seller should be 10% plus the CIF price.

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