CIF – Cost, Insurance & Freight

The term "cost, insurance, freight" or "c.i.f." predates the introduction of Incoterms. The first English court case which referred to c.i.f. was Tregelles v. Sewell (1862),[22] where the court established that under c.i.f. terms, risk passes to the buyer on shipment.[23] In the case of E. Clemens Horst Co. v. Biddell Brothers, the UK House of Lords ruled in 1911 that "the sellers in a c.i.f. contract were entitled to payment of the price upon tender of the bill of lading and insurance policy. The purchasers' intent to wait for satisfactory de