Cost, Insurance, and Freight CIF

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Cost, Insurance, and Freight (CIF)

 

in international trade, a type of contract of sale agreement for the transport of goods by sea. Under the terms of CIF, the price of a commodity is set to include the cost of the commodity itself, insurance costs, and costs of transport to the port of destination.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
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