Cost, insurance and freight (CIF)

{
  "id": "MLC-T-LOG-000249",
  "term": "Cost, insurance and freight (CIF)",
  "field": "Logistics and supply chain",
  "definition": "An international shipping agreement, defined by Incoterms, where the seller is responsible for all costs to bring the goods to the port of destination. The seller's obligations include paying for the goods, freight charges, and securing marine insurance coverage for the buyer's risk of loss or damage during transit. Risk transfers from the seller to the buyer once the goods are loaded on board the vessel at the port of shipment, but the seller's cost responsibility continues to the destination port.",
  "abbreviation": "CIF",
  "url": "https://mlchart.com/terminology/logistics/cost-insurance-and-freight-cif/"
}