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When C.I.F is quoted on an invoice, it means that the price includes the

Commerce
WAEC 2011

When C.I.F is quoted on an invoice, it means that the price includes the

  • A. cost of goods only
  • B. cost of insurance only
  • C. cost of carriage only
  • D. cost, insurance and carriage
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Correct Answer: Option D
Explanation

CIF means Cost, Insurance, and Freight. That is ,the seller is obligated but not restricted to : Taking care of export customs clearance formalities at origin

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts