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Cost, Insurance and Freight |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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If you want to see the difference between FOB and CIF price, be sure to ask for both in your inquiry. In 1996, it was said that Shell had proposed applying its Brunei formula for the CIF sales as follows: (a) the different components of the gas chain are at arm's length, rather than fully integrated; and (b) the Muscat government sells the gas to Oman LNG at a "flowback" price, whereby the CIF price of LNG would determine the price of the gas and of LNG delivered to the tanker in agreed proportions, with the LNG to be sold to the Far East and Europe. Customs value imports at the higher CIF price, which includes cost, insurance and freight, while exports are valued at the lower free on board (FOB) price, the official was quoted as saying. |
Cif price |
Cies CIESAS CIESC CIESD CIESE CIESF CIESIN CIESIN Data and Research Center CIESM CIESS CIEST Ciesta Ciesta Cieszyn CIET CIETAC CIETC CIETS CIEVA CIEWI CIEX CIEXA Cieza de León, Pedro CIF CIF CIF CIF CIF CIF CIF ASWP Cif price CIF&CCIF&E CIF-SS CIF/ICW CIFA CIFAA CIFAB CIFAC CIFAD CIFAN CIFAP CIFAR CIFAS CIFASD CIFAX CIFAX CIFC CIFCA CIFCI Cifci Wing Tsun Organization CIFCL CIFCO CIFCOT CIFD CIFDA | ||||||||
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