CIF (Cost, Insurance, and Freight) Delivery is one of the international commercial/trade rules set defined by the International Chamber of Commerce (“ICC”) known as Incoterms®. Under CIF, the seller is responsible for arranging and paying for freight and insurance to a buyer’s destination and export clearance. The risk of loss transfers to the buyer once the goods are loaded onto the vessel. The buyer is responsible for importing the goods and all destination charges (duties, unloading, etc.). CIF delivery can only be used for ocean or waterway international shipments.