Examples of CIF value in a sentence
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.
For the purposes of this Chapter: carrier refers to any vehicle for air, sea, and land transport; CIF price or CIF value refers to the price actually paid or payable to the exporter for the good when the good is loaded out of the carrier, at the port of importation.
Nevertheless, when a set is composed of originating and non-originating goods, the set as a whole shall be regarded as originating, provided that the CIF value of the non-originating goods does not exceed 15 % of the ex- works price of the set.
INSURANCE In case the Product is delivered under the CIF basis Seller shall insure the cargo with First Class insurance for 110 pct of the CIF value against all risks as per the Institute Cargo Clauses “A” dtd 1.1.82 plus Institute War Clause (Cargo) dtd 1.1.82 and Institute Strikes Clauses (Cargo) dtd 1.1.82.
The value of a material used in production of a good in a Party shall be the Cost, Insurance and Freight (CIF) value and shall be determined in accordance with Article VII of the GATT 1994 and the WTO Agreement on Customs Valuation, or, if this is not known and cannot be ascertained, the first ascertainable price known by the manufacturer to have been paid for the material in the Party.