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Fob cif trade terms

30.03.2021

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FOB – FREE ON BOARD (named port of shipment): The seller must themselves load the goods on board the ship nominated by the buyer, cost and risk being divided at ship’s rail. The seller must clear the goods for export. A further trade term is CIF, which stands for Cost, Insurance, Freight. The CIF trade term requires the seller to incur greater costs than for an FOB contract, as the seller is obliged to procure insurance and organise the carriage of goods. FOB and CIF are International Commercial terms, or Incoterms, as they are popularly known. There are lots of acronyms, all 3 lettered, and having a predefined meaning that is easily understood by both buyers and sellers in international trade. FOB (Free On Board) One of the most commonly used-and misused-terms, FOB means that the shipper/seller uses his freight forwarder to move the merchandise to the port or designated point of origin. CIF — Cost, Insurance and Freight. For CIF, the price also includes sea freight charges and insurance to deliver the goods to YOUR nearest port. But remember, it’s only to the port. From that point onwards, it’s up to you to take responsibility for the shipment. Incoterms, often called trade terms or shipping terms, are an international contract of sale. Incoterms is short for International Commercial Terms. EXW and FOB are far and away the two most common incoterms. CIF means Cost Insurance and Freight. That means the shipper/trader has to pay the cost of shipment up to the ship, insurance cost for the cargo, and freight cost up to destination port. FOB stands for Free On Board which means the shipper/trader pays only costs up to the ship and the insurance cost,

The “F” terms: (FCA, FAS and FOB) – Terms where the seller/ exporter is responsible to deliver the goods to a carrier named by the buyer. The “C” terms: ( CFR, CIF

1 The INCOTERMS® (International Commercial Terms) are a universally recognized set of definitions of One of the fundamental decisions of international trade is how to structure the terms of sale between buyers and sellers. In the case of imports, Canadian and THE ROLE OF THE SHIPPING DOCUMENTS IN C.I.F AND F.O.B CONTRACTS 1 of 11 1.1.1 C.I.F. Contract The term C.I.F. is the acronym which means Cost,

18 Sep 2017 The CFR term requires the seller to clear the goods for export. DIFFERENCE BETWEEN CIF, CFR, AND FOB (FREE ON BOARD) On the other hand, the buyer bears the shipping costs to move the goods from the agreed

FOB VS CIF/CFR Shipping Terms. A common dilemma when importing cargo via sea freight into the UK is the question of which shipping term to use. CIF/CFR CIF Versus An FOB Contract. 4010 words (16 pages) Essay in Commercial Law. 02/02/18 Commercial Law Reference this Law Student. 31 Mar 2019 Comparison CIF-FOB Shipping Terms This study is conducted especially for Indian importers who face challenges while importing, wherein cost 12 Sep 2018 When it comes to international trading, there are a couple of things CIF, C&F, and FOB are among the Incoterms Rules for Sea and Inland Waterway. the seller has a higher responsibility than the buyer in terms of delivery. Other terms such as cost net insured (CIF) and cash against document/delivery ( CAD) are also used. Based on the relationship between business entities, the FOB term gives the buyer more control over the freight shipping process than CIF. Also, FOB provides control over 4 Jul 2017 Negotiating an Incoterm is crucial as it forms a key aspect of any import or export. For companies, it affects costs, trade margins, supply chain

Read more about the most widely used set of trade terms for marine, the Incoterms. With the exception of CIF and CIP terms, INCOTERMS place no burden on the seller or buyer Insurance Notes On FCA, FAS, FOB, CFR AND CPT Terms

CIF means Cost Insurance and Freight. That means the shipper/trader has to pay the cost of shipment up to the ship, insurance cost for the cargo, and freight cost up to destination port. FOB stands for Free On Board which means the shipper/trader pays only costs up to the ship and the insurance cost, 2 CIF班輪條件（CIF liner terms），指卸貨費用按班輪條件處理，由支付運費的一方（即賣方）負擔； 2 CIF艙底交貨（CIF ex ship's hold），指買方負擔將貨物從艙底起吊卸到碼頭的費用； 2 CIF吊鉤交貨（CIF ex tackle），指賣方負擔將貨物從艙底吊至船邊卸離吊鉤為止的 A further trade term is CIF, which stands for Cost, Insurance, Freight. The CIF trade term requires the seller to incur greater costs than for an FOB contract, as the seller is obliged to procure insurance and organise the carriage of goods. FOB stands for “free on board”. Its use would be “FOB ” where would be the city or place where the goods would be left. This term is typically used in sales contract, and designates a location for the delivery of goods. For example, FOB Dallas means that the seller would provide the goods at the seller’s expense to Dallas. FOB - free on board: The seller's obligations are fulfilled when the goods have passed over the ship's rail at the port of shipment. For contracts FOT (free on truck) and FOR (free on rail) this occurs when the goods have passed over the truck's tailgate or the railcar's loading gate. Incoterms, often called trade terms or shipping terms, are an international contract of sale. Incoterms is shot for International Commercial Terms EXW and FOB are far and away the two most common incoterms. Incoterms have two parties, 'the buyer' and 'the seller.' ‘The seller,’ is typically a factory, manufacturer, trading company, or a wholesaler.