Shipping & logisticscif
CIF
Cost, Insurance, and Freight — seller pays freight + marine insurance; risk still passes at load port.
CIF (Cost, Insurance, and Freight) under Incoterms 2020: seller pays cost, freight, AND marine insurance to the named discharge port. Like CFR, risk still passes at the load port — but the seller procures insurance covering the buyer.
Frequently asked
- What does CIF mean in oil and commodity trading?
- Cost, Insurance, and Freight — seller pays freight + marine insurance; risk still passes at load port.
- How do I check a counterparty that uses CIF in a deal?
- The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against OilFlow's first-party fraud-cluster corpus in seconds, and confirm identity documents and banking details independently before you transact.
See also
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