CIF

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C.I.F.

the total of cost, insurance and freight charges to be paid on goods purchased and shipped.

CIF

‘cost, insurance, freight’, a special type of sale of goods. The quoted price includes the cost of the goods, the cost of insurance while the goods are in transit and the cost of the freight to the destination. It clearly eases the buying of goods across national boundaries, especially so where distance is involved. The seller is in the best position to obtain a good price for insurance and freight, so the utility of the standard contract is evident. The seller delivers the goods to the carrier and sends the invoice, insurance policy and bill of lading to the buyer.
References in periodicals archive ?
263 Common Intermediate Format (CIF) video in cell phones and other portable devices on an ARM-based platform in Booth 327 at the FSA Suppliers Expo in San Jose, CA on October 6.
The products, Common Intermediate Format (CIF) and Quarter CIF (QCIF) embedded software codecs, are designed to run on the general-purpose processors used in cell phones, PDAs, and other handhelds.

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