WAEC - Commerce (2011 - No. 32)
When C.I.F is quoted on an invoice, it means that the price includes the
cost of goods only
cost of insurance only
cost of carriage only
cost, insurance and carriage
Paliwanag
CIF means Cost, Insurance, and Freight. That is ,the seller is obligated but not restricted to : Taking care of export customs clearance formalities at origin