The difference between terms "CFR" and "CIF" is that under "CIF" term of sale,the buyer must procure his own marine insurance coverage on the goods.

Name: The difference between terms "CFR" and "CIF" is that under "CIF" term of sale,the buyer must procure his own marine insurance coverage on the goods.
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Under CIF (Cost, Insurance, and Freight), the seller is responsible for arranging and paying for the marine insurance coverage on the goods, not the buyer.

The Difference Between Terms "CFR" and "CIF" Is That Under