Cost Insurance and Freight
An Incoterm which may be used in respect of transport by sea or inland waterway. The seller delivers the goods on board the vessel or procures the goods already so delivered. The seller contracts (or procures a contract) for and pays the costs and freight necessary to bring the goods to the named port of destination and obtains insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller clears the goods for export.