C.I.F. (Cost, Insurance, and Freight)

C.I.F. stands for Cost, Insurance, and Freight. It's a shipping term used in international trade that outlines how the costs are shared between the seller and the buyer. When goods are sold under C.I.F., the seller is responsible for paying the cost of the goods, insurance to cover risks during transport, and the freight charges to ship the goods to a specified destination. Essentially, this means that the seller takes care of the logistics and risks until the goods reach their destination, making it a comprehensive term for trade deals.