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CIF in Import Meaning

The CIF meaning in Import terms is "Cost, Insurance and Freight". There are 1 related meanings of the CIF Import abbreviation.

CIF on Import Full Forms

  1. Cost, Insurance and Freight Only applicable for sea and inland waterway transport. This term is broadly similar to the 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.

Frequently Asked Questions (FAQ)

  1. What does CIF stand for Import?

    CIF stands for Cost, Insurance and Freight in Import terms.

  2. What is the shortened form of Cost, Insurance and Freight in Import?

    The short form of "Cost, Insurance and Freight" is CIF for Import.

Citation

CIF in Import. Acronym24.com. (2022, January 27). Retrieved May 15, 2024 from https://acronym24.com/cif-meaning-in-import/

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