| TERM | DESCRIPTION | Loading at origin | Export customs declaration | Carriage to port of export | Unloading in port of export | Loading on vessel in port of export | Carriage to port of import | Unloading in port of import | Loading in port of import | Carriage to port | Insurance | Import customs clearance | Import duties and taxes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CIF | CIF - Cost, Insurance and Freight (porto specifico di arrivo) | SI | SI | SI | SI | SI | SI | NO | NO | NO | SI | NO | NO |
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CIF – Cost, Insurance and Freight
DETAILED DESCRIPTION / RIGHTS AND DUTIES
CIF is only used for sea or inland water-based transport, and requires the seller to bear all transport costs to the port of destination (loading costs not included), as well as any costs for obtaining export licences and documents from the country of origin and those for customs export operations. Insurance costs are also borne by the seller (unlike CFR).
Once the goods reach the port of destination, all other costs shall be borne by the buyer, including unloading in port of export and customs fees in the country of destination. The term is considered as complete with the named port of destination (for example, C.I.F. Naples). It is often improperly and incorrectly used even when the goods are transported by road or rail; however, in these cases other terms such as CFR (without insurance) or CIP should be preferred.
