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Difference Between FOB and CIF | Compare the Difference ...

Aug 07, 2011· FOB vs CIF . FOB and CIF are International Commercial terms, or Incoterms, as they are popularly known. There are lots of acronyms, all 3 lettered, and having a predefined meaning that is easily understood by both buyers and sellers in international trade.

Shipping terms explained: CFR, CIF and FOB - Trade Finance ...

Dec 17, 2016· It is important to have an understanding of cost and freight (CFR), cost, insurance and freight (CIF) and Free on board (FOB). There is much talk in the trade world about incoterms and how something is shipped; these terms have their own nuances. It is important to first note the difference between the shipping terms CFR and CIF.

CNF, CIF & FOB Explained!

Apr 25, 2016· CNF, CIF & FOB Explained! Published on April 25, 2016 April 25, 2016 • 526 Likes • 77 Comments. ... A much better alternative is to use a freight forwarding agent for …

FOB Price VS CIF? Which One Should You Use When Importing?

FOB and CIF are the two most commonly used Incoterms. FOB Price vs CIF Price. The main difference between the two is who accepts responsibility for goods while they are in transit. With FOB once the goods are on the ship, they are marked as delivered and the purchaser takes control.

Difference Between FOB and FCA | Compare the Difference ...

Aug 07, 2011· Two of these contracts, namely FOB and FCA, are confusing for both buyers as well as sellers because of their similarities. To remove all confusion, this article attempts to highlight the differences between FOB and FCA. FOB that stands for Free on Board is a very popular mode of contract between buyers and sellers.

A Picture show you the difference of FOB / EXW and CIF ...

While for FOB, importer and buyer only pay the port to port shipping charges, while the export local charges will be on the shipper or seller's account. difference between fob and cif. For direct buyers and importers, FOB means they arrange the shipping through China forwarders and pay the port to port shipping cost only.

FOB or CIF? What Are The Differences & What Should ...

Mar 22, 2020· If you're choosing between CIF and FOB for your shipping needs, pick FOB to achieve better visibility, excellent customer service, and cost reductions. Dedola is an experienced freight forwarder that has long-standing partnerships in 170 countries.

Free On Board (FOB) Shipping: Meaning, Incoterms & Pricing ...

CIF is a more expensive contract option than FOB, as is demands more effort and expense on the part of the supplier. Expert's Note Suppliers often charge a premium on …

What is the difference between FOB and DDP? | AnswersDrive

FOB – Free on Board (or Freight on Board). This basically means that the cost of delivering the goods to the nearest port is included but YOU, as the buyer, are responsible for the shipping from there and all other fees associated with getting the goods to your country/address. CIF – Cost, Insurance and Freight.

Comparison of ExW, FAS, FCA, FOB, CFR, CIF, CPT, CIP, DAT ...

Comparison of ExW, FAS, FCA, FOB, CFR, CIF, CPT, CIP, DAT, DAP, DDP Incoterms. The International Chamber of Commerce (ICC) first created the international commercial terms (Incoterms ®) in 1936 to facilitate and promote international trade and commerce.Since then, the ICC has been updating these terms.

Importing from China – what is FOB? - Blog

Today, we would like to focus on differences between FOB and CIF terms using the example of importing from China. FOB – free on Board. As you can see in the infographics, Incoterms FOB ensure that all obligations relating to costs, risk and insurance of the goods are split between the buyer and the seller in …

Should I choose FOB or CIF when importing from China ...

Jul 04, 2017· FOB or CIF: Things to note One thing to keep in mind when choosing FOB is the potential complication if the supplier refuses to cooperate with your shipping company of your choice. Suppliers sometimes get a certain kickback for using a specific freight forwarder and may therefore not be willing to work with another consignee.

What is the difference between FOB and EXW? – UNICARGO

What is the difference between FOB and EXW? FOB and EXW are two of the different Incoterms that can be used for international shipments. To decide whether FOB or EXW is the most appropriate Incoterm to use and to ensure that you understand what is covered by them, you first need to know the difference between FOB and EXW and what these terms mean.

The Advantages of Shipping FOB vs CIF - ShipLilly

May 17, 2016· FOB not only provides greater control over the shipping process than CIF does; it also gives better control over the related shipping costs and, in turn, the overall cost of the goods. For the majority of buyers, it is the sensible option.

Importing from China: FOB, CIF, or EXW Incoterm? | iContainers

Jun 26, 2018· FOB, CIF, and EXW are, theoretically speaking, viable options for your import from China. Each involves a different amount of risk, responsibility, cost, and security. My recommendation: Go for the safest Incoterm that offers you the most control over the ocean freight shipment.

CIF Versus FOB | Incoterms® Comparison | TRG Peak Blog

Jan 22, 2020· Incoterms® Comparison: CIF Versus FOB Get a better idea of which term is right for your business in this Incoterms® comparison of CIF versus FOB. While we all understand the importance of knowing the Incoterms® rules used for our business, sometimes it can be difficult to identify which one is the right choice.

9 Reasons Buying Imports on CIF Terms is Too Good to Be True

Under both CIF and FOB terms, the buyer is responsible for the final delivery and any charges related to the customs clearance or exam charges. If FOB term is used, the seller handles the export clearance and the transfer of goods takes place to the seller once the shipment is loaded onto the vessel.

Why Shipping FOB is Better Than CIF? - Excelsior PH

Why Shipping FOB is Better Than CIF? February 17, 2017. Choosing the right Incoterms is a vital part of the shipping process. This ensures that both parties – the seller and the buyer – understands their responsibilities, and at the same time, streamlines the whole shipping process so that the freights are delivered efficiently and in a ...

What are FOB and DDP? What is the meaning when I deal with ...

Apr 26, 2017· 1. FOB — Free On Board means that freight forwarder's responsibilities are limited by setting up a shipment at the origin and issuing to the importer carrier's Bill of Lading. I.e. for shipments on FOB, after goods are submitted to the carrier, loaded on board of vessel and carrier's B/L i

How do CIP and CIF differ? - Quora

With regards to the Incoterms® 2010 rules version, the main differences are: Carriage and Insurance Paid To (CIP) * class 1 rule - applies to any mode or modes of transport * the seller is responsible for all export customs formalities where appli...

Why Choose FOB Shipping With Your Supplier | CFC

4. FOB means better control and work efficiently. You have better control of your cargo and your budget. The cost is always important and you will have a better chance of gaining a more competitive freight rate. Using your own forwarding agent will help you obtain more accurate information in a timely manner.

Should I Buy CIF or FOB ? - More Than Shipping

Nov 14, 2011· This is not a problem when you buy FOB since those charges are not in the selling prices. Why buy FOB? Buying Free On Board simply has two major benefits over CIF. You have better control of the freight and the freight cost. The cost is always important and you will have a better chance of gaining a more competitive freight rate.

FOB vs CIF | Difference between FOB and CIF

(Image: FOB vs CIF) Meaning: FOB means free on board.The price includes all the expenses incurred until goods are actually loaded on board the ship at port of shipment. CIF stands for cost, insurance and freight.The seller meets cost of goods, freight and marine insurance.

EXW vs FOB: What's Right for My Shipment?

Incoterms, short for international commercial terms, are the international rules that govern the handling of your shipments, determining who carries the responsibility for a shipment and when it is transferred from seller to buyer.It is important for both the seller and the buyer to have a firm understanding of these terms because they will have a direct impact on your costs and risks.

CNF, CIF, FOB, DDP & EXW Explained! - Andrew Minalto

CNF, CIF, FOB, DDP & EXW Explained! Spread the love. ... Your blog, is very helpful, with information on the CNF, CIF, & FOB explained! ... FOB is better, yes, if you work with a good freight forwarder company, like Woodland Global. Some companies will always try to over-charge you on all kinds of fees, so always get a final door to door price ...

What Is The Difference Between FOB and CIF? – Redwood ...

The major difference between FOB and CIF is when liability and ownership transfers. In most cases of FOB, liability and title possession shifts when the shipment leaves the point of origin. With CIF, responsibility transfers to the buyer when the goods reach the point of destination.

Why Purchasing CIF or DDP May not be the Best for YOUR ...

Oct 15, 2017· A careful review of INCO term rules will always reveal that CIF/DDP terms tend to be advantageous to the seller, whereas Free on Board favors the buyer's interests. In short, buying FOB whenever importing is better for your bottom line.

CIF vs. FOB: What's the Difference? - Investopedia

CIF vs. FOB: An Overview . Cost, Insurance, and Freight (CIF) and Free on Board (FOB) are international shipping agreements used in the transportation of goods between a …

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