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CIF

shipping container at sea
Definition

CIF (Cost, Insurance, and Freight) is a widely used term in the supply chain that refers to a specific type of international trade agreement. Under CIF, the seller is responsible for the cost of the goods, insurance coverage during transit, and freight charges to deliver the goods to the designated port of destination. Once the goods are loaded onto the vessel, the risk of loss or damage transfers from the seller to the buyer. CIF terms provide clarity regarding financial responsibilities and help ensure smooth and efficient international transactions.

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Get the Most Advanced Visibility into the Journey of Your Ocean and Rail Containers

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CIF

Definition

CIF (Cost, Insurance, and Freight) is a widely used term in the supply chain that refers to a specific type of international trade agreement. Under CIF, the seller is responsible for the cost of the goods, insurance coverage during transit, and freight charges to deliver the goods to the designated port of destination. Once the goods are loaded onto the vessel, the risk of loss or damage transfers from the seller to the buyer. CIF terms provide clarity regarding financial responsibilities and help ensure smooth and efficient international transactions.

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Our experts love to answer questions. Fill out the form and someone will contact you soon.

Thank you for your submission!

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Oops! Something went wrong while submitting the form.

Get the Most Advanced Visibility Into the Journey of Your Ocean and Rail Containers

Talk to one of our supply chain experts to get started now.
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Shipping container at seaShipping container at sea