Explanation:

- Option 1: Cost, insurance, freight

- This is the correct definition of CIF.

- It is an international shipping agreement.

- Seller covers cost, insurance, and freight to the buyer's port of destination.

- Option 2: Cost inclusive of freight

- This is incorrect.

- It suggests only cost and freight, excluding insurance.

- Option 3: Cost in freight

- This is also incorrect.

- It's unclear and does not cover insurance or specifics about cost.

- Option 4: Cost, interest, freight

- Incorrect as well.

- It includes "interest", which is not part of CIF.