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what is fob and cif?


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Old 05-23-2008, 11:27 PM
trade trade is offline
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Default what is fob and cif?

Interesting Question

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Old 05-23-2008, 11:27 PM
John John is offline
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Default what is fob and cif?

If you want to find out more about this, search under incoterms. One source is listed below.
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Old 05-23-2008, 11:27 PM
importchina importchina is offline
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Default what is fob and cif?

CIF is the easier term to explain because everybody agrees on what it means. C= customs duties, I = insurance, F = freight charges.
FOB literally means "Freight on Board", and it is usually followed by another term, such as "shipper location", And really what it means (in the US) is you pay the freight from the time it leaves the shipper dock. FOB works, Freight allowed to (your city) means that the shipper pays the freight to you, but that you take ownership as it leaves the dock of the shipper, so if the truck has an accident, it is your problem, and you still have to pay for the goods. There are, I am sure a few more wrinkles. In Asia, they sometimes think FOB means they pay the ocean freight, but the shipper pays the freight to the ship. When dealing with overseas customers, I always go to great pains to make sure I am VERY clear on shipping terms.
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Old 05-23-2008, 11:27 PM
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what is fob and cif?
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Old 05-23-2008, 11:27 PM
nihao nihao is offline
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Default what is fob and cif?

FOB refers to free on board, CIF referes to carriage insurance and price. These are terms used for international trade.
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