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Cost, Insurance and Freight

A CPT involving ocean freight. In a CIF, the seller is responsible for paying for shipping and providing a minimum amount of insurance coverage up to the named port of destination, while the buyer is responsible for the transportation risk beyond the minimum coverage as soon as the good or product is loaded onto the ship. Legally, risk transfers when the good or product crosses the outer rail of the ship. A CIF is similar to a CFR, but also requires the seller to provide minimal insurance. See also: Incoterm.

Customer Information File

A file a bank keeps on each of its account holders and other clients. It contains information on account balances, outstanding loans, assets and so forth. It is updated frequently to ensure correct information.


References in periodicals archive ?
The new 4CIF systems mandated by the IACP will be even more expensive, which means that many police departments will be unable to purchase video systems for their patrol cars.
Simultaneous MPEG-4 and Motion JPEG video streams at resolutions up to 4CIF allow for optimized quality and bandwidth usage.
The AXIS 243Q blade video server delivers 30 frames a second of video per channel, at 4CIF, in MPEG-4 or Motion JPEG compression.