A delivery term; Cost Insuarance Freight (C.I.F.) Karachi
Cost, Insurance and Freight (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
CIF means Cost Insurance and Freight, which means the seller pays to get the load to its destination. The alternate is FOB--Free On Board--which means the buyer pays the freight and insurance.
- CIF is Cost, Insurance and Freight - FOB is Free on Board
yes, in CNF , only cost of the material and freight are included. in CIF- cost , insurrance and freight of material are included
The cheapest kind they can come up with, because CIF requires the seller to pay for freight. And since they don't really WANT to pay for freight...
CIF stands for Cost Insurance and Freight and it encompasses all three into the final price.
Means the seller pays the insurance.
CIF Cost Insurance and freight (Port of destination) Incoterms® 2010Seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the vessel (this rule is new!). Maritime transport only included Insurance for the goods.This term is for waterways or ocean freight only.
In cost and insurance it will be ''Freight Collect'' but if party require as '' Freight Prepaid'' then use CIF incoterms.
It's a shipping term: Cost, Insurance and Freight. A contract that specifies CIF requires the shipper to pay the costs of insurance and freight from the "originating terminal" to its destination. If the goods are moving by ship or train, CIF brings the goods from the factory or warehouse to the ship or the train. If the goods are moving by truck, CIF requires the shipper to pay the trucking company to carry the goods to your destination. Needless to say, you don't see this very much. You're more likely to see FOB--Free on Board--which requires the purchaser to pay freight from the shipper's loading dock to his loading dock.
CIF stands for cost, insurance, and freight. Under CIF shipping terms, payment for products are paid upon delivery of goods.