CIF Incoterm 2020 Explained : Cost, Insurance, and Freight | EXPORTER'S Guide to Mandated Insurance

Описание: CIF Incoterm 2020 Explained : Cost, Insurance, and Freight | EXPORTER'S Guide to Mandated Insurance
CIF Incoterm 2020: The EXPORTER'S Guide to Mandated Insurance (Cost, Insurance, and Freight Masterclass)

The CIF (Cost, Insurance, and Freight) Incoterm 2020 is a sea-only term and one of the most common trade rules, especially for goods traded in vast volumes. Like its cousin, CFR, CIF is a "C" rule that creates a stark divergence: the seller pays all the way to the destination port, but the risk transfers to the buyer at the port of shipment.

The crucial difference? Under CIF, the seller is legally obligated to arrange and pay for marine insurance (at minimum coverage) to protect the buyer during the main carriage. This term protects the buyer from the moment the goods are loaded.

Watch this video to master the CIF obligations, understand the mandatory insurance rules (ICC Clause C), and learn why, for container shipments, you must swap CIF for CIP to ensure maximum compliance and protection.

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