CIF (Cost, Insurance, and Freight)

Cost, Insurance, and Freight (CIF) is one of the Incoterms for an international trading, the price of purchase includes a price of good, insurance and freight costs. Seller (Supplier) is responsible for transportation of goods to the designated position, and buyer is responsible for them from that point.

Related Definitions in the Project: The Logistics Management; Bond and Insurance

Posted in Controls, Procurement and tagged , , , , .

ThePD (The Project Definition)

ThePD has been developing the Preferred Project Definitions based on the actual project execution and operation experiences and knowledge with the Project Language, and sharing with you daily basis.