CIF Calculator
Cost, Insurance & Freight estimations for sea cargo.
What is CIF (Cost, Insurance & Freight)?
CIF is an Incoterm used only for sea and inland waterway transport. In a CIF transaction, the seller pays for the cost of the goods, the insurance to cover the risk of loss or damage, and the freight charges to transport the goods to the destination port.
CIF Calculation Method:
CIF Value = FOB Price + Marine Insurance + Ocean/Air Freight
The CIF value is critical for customs clearance because many countries (including India, EU, and UK) use the CIF price to calculate import duties and taxes. Under-declaring the CIF value can lead to penalties and delays during customs audits.