If you feel that the world of Fair Trade has its very own language – don’t fret! We’ll keep you in the know!
With this glossary we’ll guide you through the common technical terms used by FLOCERT, Fairtrade International and the World Fair Trade Organisation (WFTO).
Learn about the wor(l)ds of Fair Trade below!
Cost, Insurance and Freight (CIF)
The seller delivers their part of the contract when the goods pass the ship’s rail in the port of shipment. The seller pays the costs and freight necessary to bring the goods to the named port of destination. The risk of loss or damage to the goods, as well as any additional costs due to events occurring after the time of delivery, are transferred from the seller to the buyer.
The Cost, Insurance and Freight (CIF) term requires the seller to clear the goods for export.