Cost Insurance Freight

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Definition

Under a cost insurance freight (CIF) contract, the risk of loss or damage to goods is transferred to the buyer once the goods have passed the ship's rail. But the seller has to pay the expense of transportation for the goods up to the port of destination, including the expense of insurance.[1]

See also


References

  1. ^ American Marketing Association. Dictionary. <https://www.ama.org/resources/Pages/Dictionary.aspx> (cited 12 May 2015).

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