ABSTRACT
The cif (cost, insurance and freight) contract for the international sale of goods is a form of contract which was introduced and developed by mercantile practice and recognised by the English courts in the mid-19th century. The various types of export sale contract (designated by the trade terms cif, fob, ex ship, etc) are indicative of a series of standard frameworks into one of which the parties can fit the particular requirements of their transaction. They represent the long-term outcome of planning and co-operation between sellers, buyers, banks and others with the overall aim of facilitating international trade and safeguarding the parties to it.
