7 Pairs of Commonly Confused Words What's the difference between 'fascism' and 'socialism'? More Commonly Misspelled Words Words You Always Have to Look Up Your vs. You're: How to Use Them Correctly Popular in Wordplay See All More Words with Remarkable Origins ...
FAS (Free Alongside Ship):In this scenario, the seller is in charge of arranging customs clearance and delivering the items to the quayside of an outbound shipping vessel. CIF (Cost, Insurance, and Freight): The buyer is responsible for insurance and freight costs; the vendor covers only shi...
the risks arising in the course of the carriage of goods, and will examine them in the context of CIF (cost, insurance and freight) contracts.' The CIF and C&F (cost and freight, also referred to as CFR) contracts, along with FOB (free on board) contracts, are the most frequently ...
Thus, the above are some advantages and disadvantages of the concept. The full form of CIF is cost, insurance, and freight. In this option, the contract seller will take responsibility for the goods and ensure that the same are insured against loss, theft, or damage when these are loaded ...
What is a Bill of Lading in Import, Export and Shipping? First, a Bill of Lading is a the most important shipping document involved in the import export process. However, some shippers may not understand the bill of lading meaning or the types of bill of lading that are issued along the...
theexamination,mainlyin objectiveproblems.Theimportantpointsareasfollows: 1andsixmajorEnglishtermsoftradetermsandtheirfullnames 2,CIFandDESsimilaritiesanddifferences Thesamepoint:watertransport,thesellerresponsiblefor transport,bearthefreight Theplaceofdeliveryisdifferent:CIFistheportofshipment, andDESistheportof...
CFR is very similar toCIF. The only difference between the two is that in the latter, insurance is mandatory, and it is the responsibility of the seller to take the insurance. In the case of CFR, however, insurance is not mandatory. Between the two, experts recommend CFR over CIF if th...
The risk passes from the seller to the buyer only once the cargo is unloaded. A point to note is that, unlike the CIP and CIF, there is no obligation for both buyer and seller to offer cargo insurance under the DAT Incoterm. However, for safeguarding the interest of both parties, it ...
asigned commercial invoice in quadruplicate quoting OGL EXPORT IMPORT POLICY 2009-2014 AND CERTIFYING THAT THE GOODS ARE AS PER PURCHASE ORDER NO.141104736 DATED 16-JUNE-2011. GROSS CIF VALUE OF THE GOODS BEFORE DEDUCTION OF AGENT'S COMMISSION,IF ANY,MUST NOT EXCEED THE MAXIMUM CREDIT AMOUNT ...
On usual term通常条件By the usual route惯常航线In the proper vessel适合的船舶 Usual freight正常运费 the buyerContract for the carriage of the goods租船订舱 Obtain import license Cover cargo insurance投保 Pay the price and take delivery of the goods Additional Freight额外运费 CIF The sellerContract ...