EXPLAIN answer
What does CIF price mean, and what is not included?
CIF means Cost, Insurance and Freight. The seller pays for the machine, the ocean freight to the named destination port, and marine insurance for the sea leg.
A CIF figure still excludes import duty, VAT, destination port charges, customs clearance and inland delivery. Those are confirmed by your broker against the HS code and the declared value.
CIF is quoted per port and per sailing. Freight changes with the schedule, so we confirm the figure in writing rather than publishing a number that may be a week old.
For a machine that ships on a flat rack or by RoRo, the freight line depends on the method. We state the method in the quote so you can see what the freight actually pays for.
At a glance
| Term | What does CIF price mean, and what is not included |
|---|---|
| Covers | Machine, loading, export documents as stated |
| Excludes | Duty, VAT, port charges, inland delivery |
When this answer does not apply
Definitions are commercial terms, not advice on your import. Your broker and your contract decide how the terms apply to your shipment.
How the price is built
The machine price is quoted FOB the Chinese loading port and confirmed in writing. Ocean freight and marine insurance are quoted separately for your port, and duty, VAT and port charges are confirmed by your clearing agent. That is why no single landed figure is published here.
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Where to go next
- Shipping to Nigeria via Lagos (Apapa / Tin Can)
- Current used excavator file
- How inspection works before payment
- Shipping solutions: flat rack, RoRo, container
What to send for a firm answer
- The model, or the tonnage class if you have not chosen a model.
- The destination port, so the CIF figure is for the port you will actually clear at.
- Whether an inspection or a third-party report is required before the balance.
- Any certificate the destination asks for, such as SONCAP, PVoC or SABER.
Common questions
Does CIF include duty?
No. Duty, VAT and destination port charges are not part of CIF.
Is the CIF figure fixed?
It is confirmed in writing for a specific sailing and port. If the sailing changes, the freight line is re-quoted.
Which port do you quote to?
The port you name. If you are still deciding, we can quote two ports so you can compare.
Answered by Anhui Gangya Construction Machinery Co., Ltd., Hefei, Anhui, China. Price basis FOB China; CIF quoted per port. Duty and VAT depend on your broker.