CIF - Cost, Insurance and Freight (named port of destination)

This term is broadly similar to the above CFR term, with the exception that the seller is required to obtain insurance for the goods while in transit to the named port of destination. CIF requires the seller to insure the goods for 110% of their value under at least the minimum cover of the Institute Cargo Clauses of the Institute of London Underwriters (which would be Institute Cargo Clauses (C)), or any similar set of clauses. The policy should be in the same currency as the contract. The seller must also turn over documents necessary, to obtain the goods from the carrier or to assert claim against an insurer to the buyer. The documents include (as a minimum) the invoice, the insurance policy, and the bill of lading. These three documents represent the cost, insurance, and freight of CIF. The seller's obligation ends when the documents are handed over to the buyer. Then, the buyer has to pay at the agreed price. Another point to consider is that CIF should only be used for non-containerized seafreight; for all other modes of transport it should be replaced with CIP.

Who covers the logistics charges?

Distribution of costs according to the Incoterm negotiated in the contract. Classification according to the increased level of obligations for the seller


Incoterms 2020

  • EXW — Ex Arbeite
  • FCA — Frei Träger
  • FAS — Frei Längsseite Schiff
  • FOB — Free on Board
  • CFR — Preis und Fracht
  • CIF — Kosten, Versicherung und Fracht
  • CIP — Fracht und Versicherung bezahlt
  • DAP — Geliefert am Ort
  • DPU — Delivered Named Place Unloaded
  • DDP — Geliefert verzollt

Incoterms 2010

  • CFR — Preis und Fracht
  • CIF — Kosten, Versicherung und Fracht
  • CIP — Fracht und Versicherung bezahlt
  • CPT — Fracht bezahlt zu
  • DAP — Geliefert am Ort
  • DDP — Geliefert verzollt
  • DAT — Geliefert am Terminal
  • EXW — EX Arbeite
  • FAS — Frei Längsseite Schiff
  • FCA — Frei Träger
  • FOB — Frei am Bord
  • incoterms 2010 mini logo

Incoterms 2000

  • DDU — Geliefert unverzollt
  • DES — Geliefert ab Schiff
  • DEQ — Geliefert ab Kai
  • DAF — Geliefert an Grenze
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