what does cif mean in shipping terms 
cost insurance and freight cif is an international shipping agreement used when freight is shipped via sea or waterway under cif the seller is responsible for covering the costs insurance and freight of the buyer s shipment while in transit the buyer is responsible for any costs once the freight has reached the buyer s destination port who pays cif freight the seller must pay for the costs of transferring and shipping the freight as well as insuring the cargo until the goods have been delivered to the buyer s port 