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LSDefine

Simple English definitions for legal terms

CIF

Read a random definition: deputy

A quick definition of CIF:

Term: CIF

Definition: CIF stands for Cost, Insurance and Freight. It means that when you buy something from another country, the price you pay includes the cost of the item, the insurance to protect it during shipping, and the cost of getting it to the port where it will be delivered to you. It's a way of making sure you know exactly how much you'll have to pay for something, even if it's coming from far away.

A more thorough explanation:

Definition: CIF stands for Cost, Insurance and Freight. It is an agreement between the buyer and seller in which the seller's quoted price includes insurance and all other costs up to a designated port of destination. This term is commonly used in the context of maritime transport.

A company in the United States wants to purchase goods from a supplier in China. The supplier quotes a price of $10,000 CIF Los Angeles. This means that the price includes the cost of the goods, insurance, and freight charges to transport the goods from China to the port of Los Angeles. The buyer is responsible for any additional costs, such as customs fees and taxes, once the goods arrive in Los Angeles.

This example illustrates how CIF is used to simplify the buying process for international trade. By including insurance and freight charges in the quoted price, the buyer knows exactly how much they will need to pay to receive the goods at the designated port of destination. This can help to avoid any unexpected costs or delays in the shipping process.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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