GK
IMPORTANT ABBREVIATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Commodity and Intermediate Funding
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Cognitive Investment Fund
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Common Investing Folio
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Cost Insurance Freight
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Detailed explanation-1: -CIF stands for Cost, Insurance, and Freight. These are the fees a seller pays to cover the costs, insurance, and freight of a dealer’s order when it’s enroute. This sums up the CIF definition.
Detailed explanation-2: -CIF (Cost, Insurance, & Freight) is an international shipping agreement and one of many important Incoterms®. It represents the charges a seller pays to cover the costs, insurance, and freight of a buyer’s order while the cargo is in transit.
Detailed explanation-3: -The abbreviation CIF stands for “cost, insurance and freight, ‘’ and FOB means “free on board.” These are terms are used in international trade in relation to shipping, where goods have to be delivered from one destination to another through maritime shipping. The terms are also used for inland and air shipments.
Detailed explanation-4: -Cost, Insurance, and Freight (CIF) The seller covers the cost of shipping, and insurance. The seller also obtains the necessary documentation, licenses, and inspections that may be required. The buyer assumes full responsibility for the goods as soon as they reach the destination port under a CIF agreement.