CIF - COST, INSURANCE AND FREIGHT (... named port of destination)

Seller		Buyer
Risk Cost		Risk Cost

• COST, INSURANCE AND FREIGHT means the seller has the same obligations as under CFR - COST AND FREIGHT and the seller also has to procure marine insurance against the buyer's risk of loss of or damage to the goods during the carriage.
  • The seller contracts for insurance and pays the insurance premium.
  • The seller is only required to obtain insurance on minimum coverage.

• COST, INSURANCE AND FREIGHT requires the seller to clear the goods for export.

• COST, INSURANCE AND FREIGHT can only be used for sea or inland waterway transport.

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© 2004 John Michael Pierobon

Notes