FCIF legal definition of FCIF
CIF (redirected from FCIF)
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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
Greenberg compared the FCIF
to the Screen Actor's Guild, noting the concept of supporting colleagues throughout the industry.
was created more than 20 years ago to focus industry attention on the health, human service and welfare needs of floor covering industry members in times of life-altering medical hardships.