CIF price definition

CIF price means the price paid to the exporter by an importer in MERCOSUR for the product when the goods pass the ships rail at the named port of shipment. The exporter must pay the costs and freight necessary to bring the goods to the named port of destination. For landlocked countries, the port of destination means the first sea port or inland waterway port located in any of the Signatory Parties, through which those products have been imported;
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CIF price means the price paid to the exporter for the product when the goods pass the ship’s rail at the port of importation. The exporter pays the costs and freight necessary to deliver the goods to the named port of destination;
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CIF price means the price of the Vehicle imported inclusive of the cost, insurance and freight up to the port of Mombasa in Kenya;
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Examples of CIF price in a sentence

  • With effect from the 2009-10 cocoa season, the Recipient has reduced: (a) the registration tax on cocoa from 10 percent to 5 percent of the CIF price, without having increased other taxes and mandatory levies in the cocoa sector, (b) the export tax (droit unique de sortie) on cocoa from CFAF 220 per kilogram to CFAF 210 per kilogram, and (c) quasi-fiscal levies on cocoa from CFAF 31.26 per kilogram to CFAF 26.26 per kilogram.

  • According to China Customs regulations, the dutiable value of an imported good is its CIF price, which includes the normal transaction price of the good, plus the cost of packing, freight, insurance, and seller’s commission.

  • Purchasers Liability Percentage ------------------------------------------------------------------ Telekom Malaysia 50 ------------------------------------------------------------------ PT Telekomunikasi Indonesia, Tbk 50 ------------------------------------------------------------------ The above liability percentage is based on total CIF price as given in Part 2 (Price Schedule).

  • The foreign bid or offered price shall be the CIF price, excluding import duties or consular and port fees, to which will be added port handling charges and any local transportation from the port or frontier to the site of the project in question.

  • Customs duty and countervailing duty (presently at 25.5%) as applicable on accessible value (CIF plus landing charges etc.) will then be added on the CIF price, thus converted into Indian Currency.

  • Tariffs may be fixed (a given charge per physical unit or a given percentage of the CIF price) or variable (charges vary according to the CIF price).

  • NCPC shall pay CIF price at the named port of destination in the Territory against the invoice containing shipping charge, freight, and insurance, in addition to the Bulk Product price specified above.

  • In the balance of payments and other trade statistics, imported goods are always valued at their CIF price and exported goods at their FOB price.

  • The advance payment shall be fully set off by deducting the sum of 20% (twenty percent) of the CIF price of the equipment, installation works, Site preparation, training, consumables and maintenance.

  • For such two port discharge, the price for the more distant destination will apply to Buyer’s entire cargo volume (i.e. highest CIF price formula).