The Incoterm CIF stands for ---
A
Cost, Insurance & Freight
B
Clean Initial Finding
C
Common Internal Fund
D
None of the previous
Correct Answer: Cost, Insurance & Freight
Under CIF (short for “Cost, Insurance and Freight”), the seller delivers the goods, cleared for export, onboard the vessel at the port of shipment, pays for the transport of the goods to the port of destination, and also obtains and pays for minimum insurance coverage on the goods through their journey to the named .