What is CIF meaning in shipping? CIF stands for Cost, Insurance, and Freight. It means the seller is responsible for transporting the goods from the seller’s warehouse to the destination port, and bears the costs, freight, and insurance fees during this process. However, the seller does not...
To understand CIF and its significance in exporting better, here are some key points to consider: 1. CIF includes three main costs: cost, insurance, and freight. The cost of the goods is the price that the buyer pays for the goods. Insurance covers the value of the goods during transit,...
In the intricate dance of global trade, an adept partner can transform challenges into opportunities.Crane Worldwide Logisticsstands as that partner, promising expertise and unparalleled managed service in guiding businesses through their CIF journeys, especially those from thehi-techor high-value sectors...
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The seller is expected to ensure that the insurance cover is equal to the commercial value of the product + 10%. Buyer’s obligation CIF means that the seller is obligated but not restricted to : Handle any movement past the agreed place of destination ...
In 20__, the gross output value was 1958.82 billion yuan, an increase of13.2%; the annual added value of industries above designated size was 88.42billion yuan, an increase of 16.5%. Investment in fixed assets above designatedscale reached 89.75 billion yuan, an increase of 26.1%. The total...
20xx 25.8 billion yuan GDP, gross industrial output value 45 billion yuan, the total import and export of $1.561 billion, total retail sales of social consumer goods 6.87 billion yuan, fiscal revenue was 2.436 billion yuan. The whole city economy and various social undertakings maintained a healt...
RULE 14. IMPORT AND EXPORT LICENCES, CERTIFICATES OF ORIGIN, ETC. 第十四条 进出口许可证、产地证明书等 RULE 15. CERTIFICATE OF QUALITY, ETC. 第十五条 品质证明书等 RULE 16. TENDER OF DOCUMENTS第十六条 单据的提供 RULE 17. LOSS OR DAMAGE AFTER SHIPMENT第十七条 装船后货物灭失或损坏 ...
buyer comes at this stage. Charges for import duty and taxes and unloading and transferring to owned site rests with the buyer. Also, if the buyer has requested the seller to contribute his assistance in import proceedings/documentations, then the buyer has to refund the value to the seller...
In CIF contracts, the insurance of goods is mandatory. It provides an insurance policy of a minimum of 110% of the product value. Whereas, in FOB contracts, insurance of goods is optional. Buyer can insure the goods to secure his interest because the goods are at high risk during sea tra...