The declared value of imported goods, including the cost of purchase and associated INSURANCE and shipping charges from the point of export to the point of import. CIF does not include duties or the cost of freight within the country of import. See also FREE ON BOARD (FOB).
Link to This DefinitionDid you find this definition of COST, INSURANCE, FREIGHT (CIF) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary