Wednesday, November 11, 2015

Term of the Day: Cost, Insurance and Freight - CIF

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November 11, 2015
Cost, Insurance and Freight - CIF

Cost, Insurance and Freight (CIF) is a trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier.

Breaking It Down:

Contracts involving international transportation often contain abbreviated trade terms that describe matters such as...

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