Thursday, March 1, 2012

UNDERSTANDING INCOTERMS 2010- CIF (Cost Insurance and Freight)

CIF (Cost Insurance and Freight)
The seller has the same obligations as under CFR however he is also required to provide insurance against the buyer's risk of loss or damage to the goods during transit. The seller is required to clear the goods for export. This term should only be used for sea or inland waterway transport.

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