Quick answer
CIF (Cost, Insurance & Freight) is an Incoterms 2020 rule for sea & inland waterway only. CFR plus seller provides minimum marine insurance. The table below shows exactly which side pays the cost, carries the risk and arranges insurance at each stage of the journey.
Seller vs buyer — stage by stage
| Stage | Cost | Risk | Insurance |
|---|---|---|---|
| Factory / seller site | Seller | Seller | Seller |
| Export transport | Seller | Seller | Seller |
| Export terminal | Seller | Seller | Seller |
| Main carriage | Seller | Seller | Seller |
| Import terminal | Seller | Buyer | Seller |
| Import transport | Buyer | Buyer | Buyer |
| Destination | Buyer | Buyer | Buyer |
Using CIF on LogiFindex
Confirm Institute Cargo Clauses on the offer; buyers often need broader cover than minimum.
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