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What it mean of FOB and CIF value in the Malaysia Custom Acts?


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Old 05-23-2008, 11:27 PM
Made In China Made In China is offline
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Default What it mean of FOB and CIF value in the Malaysia Custom Acts?

What it mean of FOB and CIF value in the Malaysia Custom Acts?
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Old 05-23-2008, 11:27 PM
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Default What it mean of FOB and CIF value in the Malaysia Custom Acts?

F.O.B.(Free On Board) and C.I.F. (Cost, Insurance and Freight) are standard terminology refering to different types of shipping terms. F.O.B. means the seller delivers to the shipping port and the buyer must cover transportation and insurance costs. Same goes for C.I.F., except that seller arranges for insurance and freight to the DESTINATION port. Thus, F.O.B. value reffers to cost of the merchandise at the factory, while C.I.F. value refers to the cost of the merchandise delivered in Malaysia.
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Old 10-30-2016, 12:41 AM
sankalppatil732 sankalppatil732 is offline
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FOB means Freight On Board or Free On Board. ... Here the selling cost of goods is USD 5300 FOB Mumbai. ... What is CIF terms of delivery in Exports and Imports? ... How to add Line number in Import General Manifest in Custom in India ... But there were Some other charge in Port like Terminal Handling.
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