Cost Insurance and Freight (CIF)

Definition: [crh] Seller is responsible for the payment of freight to carry goods to a named destination, as agreed with the buyer. The seller is also responsible for providing cargo insDefinition: urance at minimum coverage against the buyer's risk of loss or damage to the goods during transport. This term should be used with ocean shipments only, as the point where risk and responsibility pasDefinition: s from seller to buyer is the rail of the carrying vessel.

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