CIFSea & Inland Waterway OnlyIncoterms® 2020
Cost, Insurance and Freight
- Seller's Responsibility
- Sea freight and insurance to named destination port. Export clearance.
- Buyer's Responsibility
- Import clearance, duties, unloading at destination.
- Risk Transfer Point
- When goods are on board the vessel at port of shipment.
- Cost Transfer Point
- At named destination port.
- Insurance Obligation
- Seller must arrange insurance — minimum ICC Clause C (basic cover). Note: unlike CIP which requires Clause A, CIF only requires Clause C.
- Export Clearance
- Seller.
- Import Clearance
- Buyer.
Best For
Sea freight when buyer wants freight and insurance included in the price.
Watch Out
CIF only requires basic insurance (ICC Clause C) — buyer may want to arrange additional cover. Not suitable for containerised cargo (use CIP instead). Often confused with CIP but they have different insurance requirements since 2020.