Industry package
Import & Export
Trade & Customs · Freight & Container · WMS & Supply · Trace & Cold Chain · Finance · Sales & CRM
- 20 full users
- 2 sites
- 30 modules
Free tool
CIF Calculator
Calculate the CIF value and insurance premium from FOB value, freight and insurance rate; insurance is calculated on 110% of CIF. No sign-up needed; results update as you type.
See the system that does this automaticallyOpen the live demoCIF Calculator: what you need to know
CIF value is goods value plus main freight and insurance, and in most countries it is the base on which customs duty is calculated. The insurance premium is usually charged on 110% of the CIF value.
Expert tip: If the supplier quotes FOB, add freight and insurance from your own quotes to get the CIF value; the value on the customs declaration must match it.
CIF Calculator: worked example
Example values: Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %. With these values the results are:
| CIF value | 53,376 USD |
|---|---|
| Insurance premium | 176 USD |
| Freight share of CIF | 6.0 % |
How to use: CIF Calculator
- Enter your own values: Goods value (FOB), Freight, Insurance rate.
- Choose the currency; money inputs are converted at an approximate rate.
- Results are calculated as you type: CIF value, Insurance premium, Freight share of CIF.
- Check every step of the calculation in the formulas below.
How is it calculated?
- CIF value = ([Goods value (FOB)] + [Freight]) ÷ (1 − 1.1 × [Insurance rate] ÷ 100)
- Insurance premium = [CIF value] − [Goods value (FOB)] − [Freight]
- Freight share of CIF = [Freight] ÷ [CIF value] × 100
Other tools running on Incoterms Engine
Calculates from one table which costs belong to the seller and which to the buyer under every Incoterm from EXW to DDP.
FCRSOFT
FCRSOFT does this for you automatically
You don’t need to do the calculations and checks on this page by hand every day. FCRSOFT derives them all automatically from the records entered in the field.
- CIF, duties and landed cost are calculated automatically in every trade file.
- Customs value and cost split are set up automatically according to the Incoterm.
- Unit cost and minimum selling price are recorded in every file.
Frequently asked questions
How is CIF Calculator calculated?
Calculate the CIF value and insurance premium from FOB value, freight and insurance rate; insurance is calculated on 110% of CIF. The calculation uses Incoterms Engine: Calculates from one table which costs belong to the seller and which to the buyer under every Incoterm from EXW to DDP.
CIF Calculator: what is it and when is it used?
CIF value is goods value plus main freight and insurance, and in most countries it is the base on which customs duty is calculated. The insurance premium is usually charged on 110% of the CIF value.
CIF Calculator: what should I watch out for?
If the supplier quotes FOB, add freight and insurance from your own quotes to get the CIF value; the value on the customs declaration must match it.
How is CIF value found?
CIF value = ([Goods value (FOB)] + [Freight]) ÷ (1 − 1.1 × [Insurance rate] ÷ 100). With the example values (Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %) the result is 53,376 USD.
Worked example: CIF Calculator
Example values: Goods value (FOB) 50,000 USD, Freight 3,200 USD, Insurance rate 0.3 %. CIF value: 53,376 USD; Insurance premium: 176 USD; Freight share of CIF: 6.0 %.
Is CIF Calculator free?
Yes. The tool is free, needs no sign-up and runs in your browser; the data you enter is not stored.
Can FCRSOFT do this calculation automatically?
FCRSOFT sets up the customs value and cost split automatically according to the file’s Incoterm. You can try the Import & Export package in the live demo without installing anything.
Which currency can I calculate in?
Choose one of 28 currencies in the currency selector; monetary inputs are converted at an approximate rate. To use your own rate, enter the amounts directly.
FCRSOFT solutions
All inclusive
Enterprise Site — all products
Farm · Hatchery · Feed ERP · Processing · WMS & Supply · Sales & CRM · Finance · Maintenance · Trace & Cold Chain · B2B Commerce · Fleet & Vessel · Voyage & Chartering · Trade & Customs · Freight & Container
- 30 full users
- 1 sites
- 69 modules
