CIF Incoterm

CIF stands for "Cost, Insurance, and Freight." It's an Incoterm used in international shipping, meaning the seller is responsible for the costs associated with transporting goods to a port, including the shipping fees and insurance coverage. The seller must arrange for the cargo to be loaded onto a ship and ensure it is insured during transit. Once the goods reach the destination port, the responsibility shifts to the buyer, who must handle customs clearance and onward transportation. CIF provides a level of security for buyers, knowing their goods are insured during shipping.