CIF value

Definition

CIF value is an Incoterms valuation basis equal to the cost of the goods plus international insurance plus international freight to the US port of arrival. CIF is the typical basis for assessing duties in many countries — but not in the United States. US customs duty is statutorily assessed on the appraised value (typically the transaction value) excluding international freight and insurance after the goods are loaded for export. Confusingly, many international tariff databases and trade publications express US import duties as a percentage of CIF, which produces a different total than CBP actually collects. TariffDesk computes duties on appraised value per CBP practice; CIF is referenced here only for cross-border context.