Cost, Insurance, and Freight (CIF)

Cost, Insurance, and Freight (CIF) is an international trade term that requires 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.  

The seller is responsible for arranging marine insurance against the risk of loss or damage to the goods during the shipment. The total price billed by the seller includes the cost of the goods, the insurance, and the freight.