fob and cif
This query is : Resolved
k suresh babu
(Querist)
19 January 2009
what is mean by fob full details and cif details fob value how much percentage of cif rate . please give me the full details fob , cif value cif insurance, charges. we are a service providers
CA Hemant T Dewani
(Expert)
19 January 2009
cif:-c-cost,i-insurance.f-freight i.e it is inclusive of cost of material insurance & freight
fob means free of board that is they are sending material up to the sea remaining exp are mate by consignee
fob means free of board that is they are sending material up to the sea remaining exp are mate by consignee
20 January 2009
FOB means Free On Board. This means that the goods will be deemed to be delivered to the Buyer at the point that the goods pass the ship's rail. Obviously, this will normally be as the goods are swung in their container onto the ship.
CIF means Cost, Insurance, and Freight. This means that the Seller is providing a price which includes the cost of the goods, the insurance of the goods for their journey to their destination port/unloading point, and the cost of the ocean freight or whichever method of freight is being used to transport the goods to the Buyer. Therefore, delivery of the goods when quoted CIF will usually take place at the port of unloading.
CIF means Cost, Insurance, and Freight. This means that the Seller is providing a price which includes the cost of the goods, the insurance of the goods for their journey to their destination port/unloading point, and the cost of the ocean freight or whichever method of freight is being used to transport the goods to the Buyer. Therefore, delivery of the goods when quoted CIF will usually take place at the port of unloading.
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