What does CIF Guangzhou or CIF Beijing mean?

CIF is an IncoTerm to confirm when risk and costs are transferred from seller to buyer in International Trade shipments. View this full infographic to understand all IncoTerms used in Import/Export global trade shipments. read more

CIF is an acronym used in international trade contracts. It is one of the “incoterms” and it stands for Cost,Insurance and Freight. When a transaction is CIF it means that the seller bears responsibility for the cost of insurance and freight to get the goods to a specified port/location. In your example that would be either Guangzhou or Beijing. read more

FOB contracts stipulate that this occurs when the goods cross the rail of the ship. cif When a CIF – Cost, Insurance and Freight – shipping agreement is used, the seller has responsibility for the cost of the goods in transit, providing minimum insurance and paying freight charges to move the goods to a destination chosen by the buyer. read more

FOB vs CIF: Damaged goods under CIF The loss or deterioration after the buyer has paid becomes the buyer’s responsibility. The goods are the buyer’s property and at his risk. read more