Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.


Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
All other stakeholders who spoke at the event including leading members of the Nigerian Shipowners Association (NISA) and Master Mariners unanimously agreed that the CIF trade term would be more beneficial to the country than the present FOB on which the crude lifting is currently based upon.
In conclusion, the present results demonstrate that CIF exerted a beneficial effect on UC patients in combination with classical mesalazine.
Asked whether the council should be using so much CIF money for its own projects, Mr Yardley added: "Look at the Kick-Start scheme at Friargate.
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.
Further, if a contract gives the purchaser the option of tendering documents or goods, it is not a CIF contract, so the seller is not bound to tender the documents.
The new facility's stock is comparable to CIFs in the U.S., said Project Officer Maj.
Fergus Whelan, industrial officer with Congress, said: "We believe that the CIF was never really serious about this pay cut.
The firm stated that CIF has now incorporated a new company named Kalia Horizons to develop the infrastructure required to transport and export production from the Kalia mine site.
She joins CIF from Close Invoice Finance, where she helped to establish its Birmingham office in 2008 as part of her role as senior client manager.
Future funding for CIF will be provided by Lloyds TSB Commercial Finance.