Home > Jargon Explained > Incoterms > CIF – Cost Insurance and Freight
- A named port of destination must be specified
- CIF is only suitable for sea and inland waterway movements
- Seller must pay freight and other charges to named port of destination
- Seller must effect insurance for loss or damage to the consignment whilst in transit to the port of destination
- All additional costs and risks are the responsibility of the Buyer
Under CIF the main freight charges are paid by the seller