An Incoterm meaning ‘cost, insurance and freight’ (to a named port of destination) used exclusively for maritime transport. The supplier pays the costs and freight to transport the goods to the port of destination and, in addition, arranges and pays for the insurance up to the point when the goods are loaded on the vessel. Risk passes to the buyer from that point onwards. See also Incoterms.
« Back to Glossary IndexCIF
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
