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... Related to "Cost, Insurance and Freight - CIF" | What are Substitute Goods? A substitute is a good that satisfies the same needs as another. A substitute can be perfect or imperfect, depending on... | |
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