Is CIF suitable for all modes of transport?

CIF belongs to Incoterms® group 2 and can therefore only be used for sea freight. Any insurance is the responsibility of the seller. Under the terms of the CIF, the seller is liable for taking out insurance. Insurance against loss of or damage to goods must be contained at least to the port ... Jan 19, 2025 ... The Incoterms (CIF and FOB) determine exactly who is responsible for the goods at any given point along the shipping route. When it comes to ... Nov 28, 2019 ... What is CIF – Cost Insurance and Freight? Cost Insurance and Freight means that the seller delivers the goods to the buyer on board the vessel ... Jun 13, 2023 ... This article will unpack two commonly used Incoterms, CIF, and CIP, and discuss their differences, benefits, and risks. Feb 20, 2025 ... Cost, Insurance and Freight (CIF) is an Incoterm rule that is identical to the CFR Incoterm rule except in one aspect: insurance. CIF – Cost, Insurance & Freight (named port of destination) · Use preceding Incoterms · Incoterms usage. Jun 3, 2024 ... CIF Incoterm, known as “Cost, Insurance and Freight,”, applies exclusively to maritime shipping. In CIF, the seller bears the responsibility of covering all ... Feb 1, 2024 ... ... Incoterms that define the responsibilities of buyers and sellers in international trade transactions. Decisions about Incoterms have a wide ... Nov 11, 2024 ... Cost, Insurance, and Freight (CIF) is one of the most widely used Incoterms (International Commercial Terms) for shipping, especially for ...