CIF Contract

A CIF contract, which stands for "Cost, Insurance, and Freight," is a type of shipping agreement used in international trade. In a CIF contract, the seller is responsible for covering the costs of transporting goods, including freight charges and insurance, until the goods reach the buyer's designated port. This means the seller arranges and pays for shipping and insurance, providing a level of security for the buyer. Once the goods arrive at the port, the risk transfers to the buyer, who then takes responsibility for the goods from that point onward.