What are the fundamental principles underlying the use of CIF in international trade?

CIF (Cost, Insurance, and Freight) and FOB (Free On Board) are both shipping terms, used to define the responsibilities and obligations of the buyer and seller. May 26, 2022 ... A recent and potentially confusing shift in standard overseas shipping arrangements with your solar module suppliers toward CIF Incoterms and away from more ... Incoterms. 2.1 The CIF or CFR section, as applicable, of the Incoterms 2020 is incorporated herein. 3. Conflicts in terms. 3.1 If any terms conflict, the ... Jul 2, 2024 ... In this post, we'll take an in-depth look at two commonly used Incoterms: CPT (Carriage Paid To) and CIF (Cost, Insurance, and Freight). Sep 2, 2022 ... CIP vs CIF. Under the Carriage and Insurance Paid To (CIP) Incoterm, the seller must pay for the freight and obtain insurance to the named ... Jan 13, 2025 ... CIF means the seller is responsible for loading properly packaged goods on board the vessel they've nominated, cost of carriage to the named port of ... According to CIF Incoterms, what is each party responsible for? ... Under CIF, the seller is responsible for transport up to the port of destination, export ... Jun 10, 2024 ... Under CIF, the seller is responsible for obtaining insurance coverage for the goods during transit. This ensures that the buyer is protected in ... Apr 12, 2024 ... CIF, or Cost, Insurance, and Freight, is an Incoterm that defines the seller's responsibilities and obligations in an international sales transaction. Oct 6, 2023 ... It's an international shipping agreement, which represents the charges paid by a seller to cover the costs, insurance, and freight of a buyer's order while the ...