CIF Incoterm

CIF (Cost, Insurance, and Freight) is an Incoterm similar to CFR in that it requires the seller to pay all costs associated with delivering goods to a port of destination designated by the buyer.

The difference between CIF and CFR is that in addition to paying for transportation, the seller also pays for insurance against loss of or damage to goods during transit, up until the point of delivery at the destination. The buyer must then take responsibility for any additional costs related to unloading and onward delivery of items at the destination.