cost, insurance, and freight

A mercantile-contract term allocating the rights and duties of the buyer and the seller of goods with respect to delivery, payment, and risk of loss, whereby the seller must (1) clear the goods for export, (2) arrange for transportation by water, (3) procure insurance against the buyer’s risk of damage during carriage, and (4) pay the costs of shipping to the port of destination.

• The seller’s delivery is complete (and the risk of loss passes to the buyer) when the goods are loaded on the receiving ship while docked in the port of shipment. This term is used only when goods are transported by sea or inland waterway. — Abbr. CIF; C.I.F. Cf. COST AND FREIGHT; FREE ON BOARD. [Cases: Sales 77(2). C.J.S. Sales §§ 96–98.]

---

词条贡献者

LegalLingo, a Shanghai-based translation agency, is a recognized leader in comprehensive legal language solutions for the legal industry. We provide the world’s leading law firms and corporate legal teams with a full suite of services, ranging from the translation of contracts and compliance documentation to full-scale multilingual litigation requiring certified translation and Chinese document review. We deliver customized legal document translation solutions based on your case’s size and budget requirements, utilizing industry-leading technology to ensure accuracy, lower costs and faster turnaround times.