Cost, insurance, freight (CIF),

Definition of Cost, insurance, freight (CIF):

1. A shorthand term for signifying that the price invoiced or quoted by a seller includes insurance and all other charges up to the named port of destination. In comparison, carriage and insurance paid to (CIP) terms include insurance and all charges up to a named place in the country of destination (usually the buyers warehouse). See also cost and freight (C&F).