An overview of the Cost, Insurance, Freight (CIF) Incoterm
Holly Piggott
Director, Alinea Customs, United Kingdom of Great Britain and Northern Ireland
Published 23 Jun 2024
Pexels Alexander Bobrov
Explainer
law
Incoterms are international trade terms published by the International Chamber of Commerce and widely adopted on a global basis. In the United Kingdom, there is a legal obligation to submit the Incoterms relating to all imports to His Majesty’s Revenue and Customs (HMRC) from 30 September 2022. This article will provide an overview of the obligations related to the Cost Insurance Freight (CIF) Incoterm.