In UN COMTRADE, imports are recorded cif (cost insurance and freight) while Otherwise, year to year trade value variations may reflect a shift from USA to  Discover data on USD: Trade: Value in China. Explore China's CN: Import CIF data remains active status in CEIC and is reported by General Administration of 

CIF ( Cost, Insurance and Freight ) used in international trade terms (INCOTERMS) “CIF” means Cost, Insurance and Freight (paid to a named place), e.g. CIF London.- is a contract based on the discharge port More .. FOB ( free on board ) used in international trade terms (INCOTERMS) The Incoterms® rules developed by the International Chamber of Commerce is the industry standard for the interpretation and usage of trading terms used in a contract of sale in domestic and international trade.. In this article, we will discuss the CIF Incoterm which is one of the 11 Incoterms® 2010 rules. We will look at what it is, where it is used, its advantages and disadvantages. CIF is one of the most frequently used incoterms in foreign trade transactions, but it is widely misunderstood and misused by the practitioners. For example CIF term is commonly used with land or air shipments, whereas CIF can only be used with sea shipments according to ICC Incoterms 2010 rules . It is important to have an understanding of cost and freight (CFR), cost, insurance and freight (CIF) and Free on board (FOB). There is much talk in the trade world about incoterms and how something is shipped; these terms have their own nuances. It is important to first note the difference between the shipping terms CFR and CIF.

CIF – Cost, Insurance and Freight. In this case, the price also includes sea freight charges and insurance to deliver the goods to YOUR nearest port. But only to port – from that point onwards, you take the shipment into your hands. CNF – Cost & Freight (or Cost, no Insurance, Freight).

In UN COMTRADE, imports are recorded cif (cost insurance and freight) while Otherwise, year to year trade value variations may reflect a shift from USA to  Discover data on USD: Trade: Value in China. Explore China's CN: Import CIF data remains active status in CEIC and is reported by General Administration of  2 Mar 2020 of Trade Statistics (DOTS) presents the value of merchandise exports Imports are reported on a cost, insurance and freight (CIF) basis and  Import and Export valuation reported in the Global Trade Atlas is determined by Cost, Insurance, and Freight Import Value (C.I.F.) – This value represents the  12 Feb 2019 Singapore Customs is the lead agency on trade facilitation and revenue The Cost, Insurance and Freight (CIF) incoterms means the seller 

Free on board (FOB) means the seller must go one step further and load the goods onto the ship. Cost insurance and freight (CIF) is similar to CFR, but the seller has the additional obligation of insuring the goods until they reach the destination port.

26 Apr 2018 The customs value or the Cost, Insurance and Freight (CIF) value is the The customs value is determined according to international trade  In UN COMTRADE, imports are recorded cif (cost insurance and freight) while Otherwise, year to year trade value variations may reflect a shift from USA to  Discover data on USD: Trade: Value in China. Explore China's CN: Import CIF data remains active status in CEIC and is reported by General Administration of  2 Mar 2020 of Trade Statistics (DOTS) presents the value of merchandise exports Imports are reported on a cost, insurance and freight (CIF) basis and  Import and Export valuation reported in the Global Trade Atlas is determined by Cost, Insurance, and Freight Import Value (C.I.F.) – This value represents the  12 Feb 2019 Singapore Customs is the lead agency on trade facilitation and revenue The Cost, Insurance and Freight (CIF) incoterms means the seller  The CIF unit values rely on importers' declarations, and include all trade costs ( except tariffs and domestic taxes after the border). The FOB unit value is a proxy 

CIF-type values include the transaction value of the goods, the value of services performed to deliver goods to the border of the exporting country and the value of  

According to Incoterms 2000, CIF stands for Cost, Insurance and Freight These value-added services can help us better understand our customers' trade  The Direction of Trade Statistics (DOTS) database contains data on the value of Imports are usually reported Cost including Insurance and Freight (c.i.f.)  ports on a c.i.f. (cost, insurance, and freight) basis. F.o.b. value includes "cost of the merchandise and all charges inci- dent to placing the goods on board a. The Atlas contains trade data for 250 countries and territories, classified into 20 values (which are reported including the costs of freight and insurance – CIF) in The final step is to generate our estimate of the trade values using the data  14 Nov 2011 Importers generally buy CIF if they are new in international trade or they it can be very difficult to separate those from the actual invoice value. The Incoterms or International Commercial Terms are a series of pre-defined commercial terms The first work published by the ICC on international trade terms was issued in 1923, in India, duty is calculated against the CIF value of the goods, and in South Africa the duty is calculated against the FOB value of the goods.

The transaction value method is first considered in establishing the customs value, which is the Cost, Insurance, and Freight (CIF) value under International Commercial Terms (incoterms). To establish the customs value using this method, all other charges incidental to the sale and delivery of the imports must be added to the transaction value or the price paid or payable for the imports.

Cost, Insurance and Freight (CIF) is a common term in a sales contract that may be encountered in international trading when ocean transport is used. It must always indicate the port of destination, ie "CIF Shanghai.". When a price is quoted CIF, it means that the selling price includes the cost of the goods, CIF – COST INSURANCE AND FREIGHT (named port of destination): Seller must pay the costs and freight includes insurance to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the ship. The customs value or the Cost, Insurance and Freight (CIF) value is the actual value of the goods when they are shipped. As duties are calculated based on the CIF value, it is vital that it is calculated correctly. Cost and freight (CFR) is a trade term that requires the seller to transport goods by sea to a required port. Cost, insurance, and freight (CIF) is what a seller pays to cover the costs, insurance, and freight against the potential damage of loss of a buyer's order. The transaction value method is first considered in establishing the customs value, which is the Cost, Insurance, and Freight (CIF) value under International Commercial Terms (incoterms). To establish the customs value using this method, all other charges incidental to the sale and delivery of the imports must be added to the transaction value or the price paid or payable for the imports.

CIF – COST INSURANCE AND FREIGHT (named port of destination): Seller must pay the costs and freight includes insurance to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the ship. The customs value or the Cost, Insurance and Freight (CIF) value is the actual value of the goods when they are shipped. As duties are calculated based on the CIF value, it is vital that it is calculated correctly. Cost and freight (CFR) is a trade term that requires the seller to transport goods by sea to a required port. Cost, insurance, and freight (CIF) is what a seller pays to cover the costs, insurance, and freight against the potential damage of loss of a buyer's order. The transaction value method is first considered in establishing the customs value, which is the Cost, Insurance, and Freight (CIF) value under International Commercial Terms (incoterms). To establish the customs value using this method, all other charges incidental to the sale and delivery of the imports must be added to the transaction value or the price paid or payable for the imports. The term CIF means that the seller has more responsibility; they will pay for and arrange transportation, freight duties and insurance. This can be contrasted with a seller under an FOB shipping transaction; where the seller is merely responsible for delivery of the goods to the port of origin; CIF ( Cost, Insurance and Freight ) used in international trade terms (INCOTERMS) “CIF” means Cost, Insurance and Freight (paid to a named place), e.g. CIF London.- is a contract based on the discharge port More .. FOB ( free on board ) used in international trade terms (INCOTERMS)