CIF - Cost, Insurance and FreightCI

CIF - Cost, Insurance and Freight
CIF stands for Cost, Insurance and Freight. In Incoterms, it is a term of trade that requires the seller to arrange and pay for delivery of the goods to a port or place of import in the country of destination of the buyer.
For the purpose of customs valuation, the CIF value is the price paid for the goods plus the cost of transportation, loading, unloading, handling, insurance, and associated costs incidental to delivery of the goods from the port or place of export in the country of export to the port or place of import in the country of destination.
Examples of countries that use the CIF value as the basis for calculating the duty payable on an import are all EU countries.