CIF — Cost, Insurance and Freight
Like CFR, plus the seller buys minimum marine insurance to the destination port.
CIFCost, Insurance and FreightSea freight only
Where risk transfers
When the goods are on board the vessel at the port of shipment.
Mode: sea and inland waterway only
Who pays what
| Export customs | Seller |
| Origin carriage | Seller |
| Main freight | Seller |
| Insurance | Seller |
| Import customs | Buyer |
| Duties & taxes | Buyer |
| Delivery to place | Buyer |
Obligations
Seller
- •Pay freight to the destination port
- •Buy at least minimum cover (Institute Cargo Clauses C) for the buyer's benefit
Buyer
- •Carry the risk from the origin port
- •Clear for import and pay duties
- •Top up insurance if minimum cover is not enough
Watch out
Sea only. Insurance is the minimum ICC (C) unless agreed otherwise — the all-risks equivalent is CIP.
More terms
Frequently asked questions
What does CIF mean in Incoterms 2020?
CIF stands for Cost, Insurance and Freight. Like CFR, plus the seller buys minimum marine insurance to the destination port. Risk transfers when the goods are on board the vessel at the port of shipment.
Who pays for the main freight under CIF?
The seller pays the main carriage under CIF.