C&I stands for cost and insurance. This term is commonly used in pricing to indicate that the quoted price includes both the cost of the product and the insurance coverage for shipping. In this arrangement, the buyer is responsible for the shipping costs.
The term C&I is often encountered in commercial transactions, particularly in shipping and logistics agreements. It is relevant in areas such as contract law and international trade. Users may need to understand this term when negotiating contracts that involve shipping goods, as it clarifies the financial responsibilities of the buyer and seller. Legal templates from US Legal Forms can assist in drafting contracts that accurately reflect C&I terms.
Here are a couple of examples of abatement:
Example 1: A company quotes a price of $1,000 for a shipment of goods, which includes the cost of the items and $100 for insurance. The buyer will need to pay for shipping separately.
(hypothetical example)
| Term | Definition | Key Differences |
|---|---|---|
| C&I | Cost and insurance included in the quoted price. | Buyer pays for shipping. |
| CIF | Cost, insurance, and freight included in the quoted price. | Seller pays for shipping. |
If you are involved in a transaction that includes C&I terms, ensure you clearly understand your responsibilities regarding shipping costs. Consider using US Legal Forms to find templates that can help you draft or review contracts that include C&I terms. If the situation is complex, it may be wise to seek professional legal assistance.
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