CIF

CIF, which stands for Cost, Insurance, and Freight, is a shipping term used in international trade. It means the seller is responsible for paying the costs of the goods, the insurance to protect against damage or loss, and the freight charges to transport the goods to a specific destination port. Once the goods arrive there, the buyer assumes responsibility. CIF simplifies the process by clearly defining the seller's responsibilities up to the destination port, ensuring both parties understand who covers each part of the shipping journey.