18 April 2009
CIF stands for Cost, Insurance and Freight. CIF value refers to the landed cost of a consignment. CIF) is a common term in a sales contract that may be encountered in international trading when ocean transport is used. It must always indicate the port of destination, ie "CIF Shanghai."
When a price is quoted CIF, it means that the selling price includes the cost of the goods, the freight or transport costs and also the cost of marine insurance. CIF is an international commerce term
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