Common use of Cost, insurance and freight Clause in Contracts

Cost, insurance and freight. The seller delivers the goods at the agreed port of landing. The seller must pay the costs and freight necessary to conduct the goods to the agreed port of destination in accordance with the CIF conditions; the seller must also purchase a marine insurance for the risks of the buyer of loss or damage of the goods during the transport.

Cost, insurance and freight. The seller delivers the goods at the agreed port of landing. The seller must pay the costs and freight necessary to conduct the goods to the agreed port of destination in accordance with the CIF conditions; the seller must also purchase a marine insurance for the risks of the buyer of loss or damage of the goods during the transport. CIF The term CIF requires the Seller to clear the goods for export.