What are the key considerations for choosing CIF over other Incoterms in supply chain planning?

Comparing INCOTERMS® 2020 Rules and UCC Shipping Terms (FOB, FAS, and CIF). by Practical Law Commercial Transactions, with Melissa Proctor, Proctor Miller. If the Incoterm used was CIF, the responsibility to pay for insurance and freight charges falls on the seller. The seller should have also provided all shipping ... The Cost, Insurance and Freight (CIF) incoterms means the seller (exporter) is responsible for delivering the goods onto the vessel of transport and clearing ... Apr 20, 2022 ... CIP is the abbreviation of Carriage and Insurance Paid. It is a globally accepted trade term in which a seller pays for both the insurance and freight incurred ... According to the U.S. Commercial Service, “The most common Incoterms are EXW (Ex Works); FOB. (Free On Board); CIF (Cost, Insurance, and Freight); CPT (Carriage ... Under the CIF Incoterm, the seller agrees to 1) pay for all the costs related to moving goods to a destination port of the buyer's choosing and 2) insure the ... Under CIF (short for “Cost, Insurance and Freight”), the seller delivers the goods, cleared for export, onboard the vessel at the port of shipment. CIF belongs to Incoterms® group 2 and can therefore only be used for sea freight. Any insurance is the responsibility of the seller. Jul 22, 2024 ... The following post compares two commonly used Incoterms: DAP (Delivered at Place) and CIF (Cost, Insurance, and Freight). 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 ...