CIF

{
  "id": "MLC-T-LAW-000975",
  "term": "CIF",
  "field": "Law",
  "definition": "An abbreviation for Cost, Insurance, and Freight, an international shipping term used in contracts for sea or inland waterway transport. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges to deliver the goods to the named port of destination. Risk transfers from the seller to the buyer once the goods are loaded on board the vessel at the port of shipment.",
  "url": "https://mlchart.com/terminology/law/cif/"
}