Question

Explain the difference between CIF and C&F in details

Answer 1

C&F, now known as Cost and Freight (CFR) involves two responsibilities - one dealing with actual cost of merchandise, C and the other dealing with freight charges,F to a pre-determined destination. It is the responsibility of the shipper or seller to get the goods delivered from the place of origin to the buyer's place. It is the responsibility of the buyer to cover the insurance of the goods from the port of origin to buyer's place.

CIF (Cost, Insurance and Freight) is similar to C&F but the only difference is that instead of the buyer covering insurance of the goods, the shipper or seller insures the merchandise.

answered by: anonymous