C.I.F.

C.I.F. and International Trade Economy

In relation to international trade economy, Christopher Mark (1993) provided the following definition of C.I.F.: An abbreviation (for “costs, insurance, and freight”) used in international trade statistics and sales contracts. Transactions on c.i.f. basis mean the purchase price includes all costs of moving the goods from the point of embarkation to their destination. Until recently, most import data were given in c.i.f. terms; increasingly, they are being reported in f.o.b. terms.