CIF Grain: Freight and Insurance to the Named Port
CIF means the invoice includes the grain, carriage and insurance to the named discharge port. Load-port documents are the same set as on FOB. Risk still passes on loading. The buyer still owns discharge, import clearance and inland haulage. The vessel is not the buyer's to fix: freight is in the price.
Named discharge ports on this site include Mersin, Marmara, Alexandria, Damietta and Bandar Abbas. Worked wheat corridors: CIF Mersin and CIF Alexandria. Without insurance in the invoice, the term is CFR.
Does CIF mean the buyer has no risk at sea?
No. On the split MOSTAGRO uses, risk still passes on loading. CIF adds carriage and insurance to the named discharge port. Discharge and import clearance remain the buyer's.
Need a firm offer?
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