cif-impordihind

Terminological databases

ID 698305 Last modified 30.12.2004

Domain Agriculture - Food Industry - Livestock Industry - Fisheriescustoms

CIF-impordihind preferred

cif-impordihind former

c.i.f. import price preferred

cif import price

C.I.F - cost, insurance, freight
c.i.f - abbreviation for cost, insurance and freight. It is the basis of an export contract in which the seller pays the cost of shipping the goods to the port of destination and of insuring the goods up to this point. On a c.i.f contract, the seller sends the documents giving title to the goods to the buyer, usually through a bank.

CIF-impordihind preferred

cif-impordihind former

c.i.f. import price preferred

Usage examples

1. For the purposes of calculating the import charge referred to in paragraph 2: (a) for products listed in paragraph 2 expressed in one standard quality or, as appropriate, subdivided into several (common wheat: high, medium, low; durum wheat; maize; other fodder grains) representative cif import prices shall be recorded on the basis of the prices for those qualities on the world market. Such representative cif import prices shall be established regularly; (b) each consignment for import shall be classified according to the nearest quality among the standard qualities referred to in (a).
2. ... the price at which imports of that product may enter the customs territory of the Member granting the concession, as determined on the basis of the c.i.f. import price of the shipment concerned expressed in terms of its domestic currency, falls below a trigger price equal to the average 1986 to 1988 reference price for the product concerned.

cif import price

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