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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 ?
Section 408(b)(8) of ERISA provides a statutory exemption from the prohibited transaction rules so that a plan may purchase a CIF interest from the bank that maintains the CIF, provided that the bank receives no more than reasonable compensation and the transaction is expressly permitted by the plan or by an independent plan fiduciary with authority to manage and control plan assets.
In light of the above, it can be concluded that under a CIF contract the purchaser cannot refuse the documents and demand from the vendor the actual goods.
Lipkin agrees, noting that purifying and precisely identifying the chemical structure of CIF are currently his top research priorities.
Mali: Through its submitted NDC, committed to a target reduction by 2030 of 29% GHG emissions for agriculture, 31% for energy, and 21% for forests conditional on financial support; has a CIF IP under CIFs SREP program with projects focusing on renewables, mini-grids, and private sector engagement; CIF-related sectors under its NDC include agriculture, forests, energy, and land use.
Second, with multiple CIF programs and a growing stream of climate finance sources, countries are looking to synergize programs and create cross-collaboration.
The 2003 winners will be announced in February 2003 and will join an elite list of only 50 innovations worldwide to be honored by CIF with the NOVA Award.
Media Engagement Training: This will be customized training for CIF senior staff primarily the Program Manager, Deputy Program Manager.