Meaning of c.i.f, f.o.b, c&f

This query is : Resolved

Share Report Follow Query Ask a Query

Nehal

Nehal (Querist)
Follow

20 January 2014 Could anyone tell what is the maning of C.I.F, C&F , F.O.B

P V Ram

P V Ram (Expert)
Follow

20 January 2014 Price includes Cost, Insurance and Freight for CIF, includes Cost & Freight for C&F and Free on Board for FOB.

Thanks!

AVTAR SINGH

AVTAR SINGH (Expert)
Follow

20 January 2014
FOB: Free On Board. The value of goods inclusive of any freight costs to the stated geographical point. Export FOB would typically include any inland freight charges to the port.

CIF: Cost, Insurance, and Freight. The cost of goods inclusive of shipper paid insurance and freight charges to a stated geographical point. If no point is stated, it's generally assumed to mean to the port of debarkation. The buyer would be responsible for insurance and inland freight from that point.

C&F or CNF: As above but without insurance paid by the shipper. The buyer is responsible for insurance from the shipper's dock onwards. This is generally regarded as preferable since the buyer may choose his own insurance carrier and deals with them directly in case of a claim.

Nehal

Nehal (Querist)
Follow

20 January 2014 Thank you very much sir.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now