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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

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