Concept:C.I.F. is an international trade term meaning the quoted price includes the cost of the goods, the insurance, and the freight or carriage charges.
Explanation:When a seller quotes C.I.F. on an invoice, the seller agrees to cover all expenses required to bring the goods to the destination port or place named in the contract.
Here, "C" stands for the cost of the goods.
"I" stands for the insurance coverage taken on the goods during transit.
"F" stands for freight, which is the carriage charge paid for transporting the goods.
Therefore, the price shown on the invoice is not limited to one item only; it includes all three elements.
Since the option refers to "carriage" as the freight charge, the correct meaning is cost, insurance and carriage together.
Answer:D. cost, insurance and carriage.