CIF – COST, INSURANCE AND FREIGHT (... NAMED PORT OF DESTINATION)

Duties of seller

• Contract for carriage and insurance
• Load the goods on board
• Procure a “clean“ transport document and transport insurance (policy or certifi cate)
• Clear the goods for export
• Pay the transport insurance premium, costs and freight to bring the goods to the named port of destination

Duties of buyer

• Take delivery of the goods from the carrier
• Pay the costs which according to the contract of carriage are not borne by the seller

Documents
Documents required:

• Commercial invoice
• Transport document
• Export licence if necessary
• Insurance policy (certifi cate)

Additional documents:

• Documents needed for import or transit