Q:
What Does "CIF" Stand for in Shipping?
A:
Quick Answer
CIF stands for "cost, insurance and freight" in shipping. This is a trade term meaning that the seller must arrange for the carrying of goods by sea to a destination port as well as provide the buyer with any necessary documents to receive the goods from the carrier.
Continue ReadingFull Answer
The seller pays all costs, insurance and freight associated with shipping the goods. However, the buyer is responsible for shipping costs from the destination port to a final destination as well as any unloading charges that may be incurred. In contrast, FOB stands for "free on board" and only requires that the seller arrange and pay for goods to be shipped to a point of origin.
Learn more about Mail & ShippingRelated Questions
-
Q:
Does ABF Freight Shipping Include Pickup?
A: ABF Freight provides pickup and delivery with its shipping services. There can be additional charges for special handling, sorting or operation outside of ... Full Answer >Filed Under: -
Q:
What Does CBM Stand for in Shipping?
A: CBM stands for "cubic meter" in shipping. This measurement is calculated by multiplying the width, height and length together of one's carton, and if one h... Full Answer >Filed Under: -
Q:
What Is the Definition of "freight Allowed"?
A: Freight allowed describes an agreement between a buyer and a seller, in which the buyer pays for the cost of shipping, and the seller deducts this from the... Full Answer >Filed Under: -
Q:
How Is Freight Classified?
A: Freight is classified using the item's density, as determined by its weight and dimension. Stowability, handling and liability are also considered when ide... Full Answer >Filed Under:
