CIF value definition

CIF value means the value of the goods imported and includes the cost of freight and insurance up to the port or place of entry into the country of importation;

CIF value means the price actually paid or payable to the exporter for the good when the good is unloaded from the carrier, at the port of importation. The value includes the cost of the good, insurance and freight necessary to deliver the good to the named port of destination.

CIF value means the customs value of the imported good in accordance with the Agreement on Customs Valuation and includes freight and insurance where appropriate, packing and all other costs incurred in transporting the material to the importation port in the Party where the producer of the good is located.

Examples of CIF value in a sentence

• Further, any statutory variation in the rate of customs duty within contractual delivery period, on the actual CIF value of import content, but subject to maximum of such duty payable on quoted CIF value, under Cl. 12.1 (A) shall also be to BCPL’s account.

• Payment Terms in respect of Foreign Purchase Order Value, more than 5,000 USDPayment terms in respect of Foreign Purchase Order value, less than 5000 USD3 (a) In respect of Equipment Import, 90% of the Purchase Order Value shall be paid through Irrevocable Letter of Credit on shipment of the consignment and remaining 10% of the CIF value shall be released after satisfactory installation and commissioning and furnishing of 10% Performance Bank Guarantee.

• LC will be opened on 90% value of the equipment/item on CIF value and it shall be released on presentation of complete and clear shipping documents.

• Originating Materials is the CIF value at the time of importation or the earliest ascertained price paid for all non-originating materials, parts or produce that are acquired by the producer in the production of the good.

• The insurance shall be for an amount equal to 110% of the CIF value of the goods delivered at the respective branches covering all risks.

More Definitions of CIF value

CIF value means the price paid by the importer that includes the costs, insurance and freight needed to transport goods to a port of destination;

CIF value means the value of the imported good, inclusive of the cost of insurance and freight up to the port or place of entry into the country of importation;

CIF value means the price actually paid or payable to the exporter for the goods when the goods are unloaded from the carrier, at the port of importation. The value includes the cost of the goods, insurance and freight necessary to deliver the goods to the named port of destination;

CIF value means the customs value of the imported good in accordance with the Agreement on Customs Valuation and includes freight and insurance where appropriate, packing and all other costs incurred in transporting the material to the importation port in the Party where the producer of the good is located. Note 2: For the purposes of this paragraph, the "transaction value" means the price actually paid or payable for a material with respect to a transaction of the producer of the material. 4. The Agreement on Customs Valuation shall apply, mutatis mutandis, for the purposes of calculating the value of a good or non- originating material referred to in subparagraphs 2(b) and 3(b).

CIF value means the price actually paid or payable to the exporter for a product including the cost of the product, insurance, and freight necessary to deliver the product to the named port of destination and the valuation thereof shall be in accordance with the provisions of the Customs Act, 1962 (52 of 1962);

CIF value means the price paid to the exporter for the product when it arrives at the port of importation. The exporter must pay the costs, freight, and insurance necessary to deliver the product to the named port of destination. The valuation shall be made in accordance with the Agreement on the implementation of Article VII of GATT 1994.

CIF value means the value of the goods, including freight and insurance costs up to named port of destination either in the territories of the Parties; classified / classification, refer(s) to the classification of a product or material under a particular heading or sub-heading; consignment means products which are either sent simultaneously from one exporter to one consignee or covered by a single transport document covering their shipment from the exporter to the consignee or, in the absence of such a document, by a single invoice; customs value means the value as determined in accordance with Article VII of GATT 1994 and its interpretative notes, and the Customs Valuation Agreement; ex-works price means the price paid for the product ex-works to the manufacturer in the territories of the Parties in whose undertaking the last working or processing is carried out, provided the price includes the value of all the materials used, minus any internal taxes which are, or may be, repaid when the product obtained is exported; goods means both materials and products; manufacture means any kind of working or processing, including assembly or specific operations; material means any ingredient, raw material, component or part, etc., used in the manufacture of the product; product means the product manufactured, even if it is intended for later use in another manufacturing operation; value of non-originating materials means the CIF value or if it is not known its equivalent in accordance with Article VII of GATT 1994 and its Interpretative Notes and the Customs Valuation Agreement.