Difference
This query is : Resolved
02 August 2013
difference btw cif value and fob value?
02 August 2013
fob doesnt include insurance bt cif includes.
02 August 2013
FOB Purchase means free on board here supplier Responsibility will ends once the goods shipped ,locked and bill of ladding made,,there after you need to take responsibility to take material to our country and ofcourse our factory ,, in between if you suffer any loss supplier will not be liable and so you suppose to make arrangement for transit insurance and other clearing agents for clearing goods at customs house
02 August 2013
In case of CIF purchase Supplier will take responsibility to deliver material till the port of customer i.e, his responsibility will ends where bll of entry was made..
Here customer no need to bother for transit insurance as supplier will take care of it..
Out of above there is another type of import purchase which is available is "Exworks"
in case of Exworks supplier will take responsibility to deliver materials till factory gate
Thanks & regards
Ganesh babu k
Here customer no need to bother for transit insurance as supplier will take care of it..
Out of above there is another type of import purchase which is available is "Exworks"
in case of Exworks supplier will take responsibility to deliver materials till factory gate
Thanks & regards
Ganesh babu k
02 August 2013
please tell me how to check CIF value of import which goes in notes to accounts ?
02 August 2013
Ask company to provide the value they should have some MIS for the same
or just scrutinize import suppliers and see from where we are purchasing CIF basis and add all those
ask company to provide details break up on how they ascertained for value shown in financials
or just scrutinize import suppliers and see from where we are purchasing CIF basis and add all those
ask company to provide details break up on how they ascertained for value shown in financials
02 August 2013
thanks a lot
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