A Guide to Incoterms
Choosing the best term to use isn’t a straightforward decision. Still, it is of utmost importance for buyers and sellers to agree on the Incoterm that will be used for their transaction.Read More
Find easy-to-understand explanations of the most common freight forwarding and shipment terms
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.
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