Letter of Undertaking (LUT) in GST For Exporters How to claim GST Refund on exports? Demurrage Charges - What is Demurrage For Shipowner & Importer What is the difference between BAF and CAF? What does CAF mean in Shipping? What does BAF mean in Shipping?
What does CIF mean in shipping? Cost, insurance, and freight (CIF) shipping is an international shipping agreement that pertains to ocean and inland waterway shipments. Under a CIF freight agreement, the seller pays all insurance, handling, and freight charges until the buyer’s order arrives ...
What does CIF mean in international trade? CIF (Cost Insurance and Freight (insert named port of destination): The Chinese translation of the CIF term is cost plus insurance plus freight, (designated port of destination, the original text is Cost Insurance and Freight (insert named port of des...
Marine insurance– said to cover the damages that incur during the shipping process. The term marine insurance primarily refers to the transportation of goods across the sea. Although, it can also extend to other forms of transport like air, in which case it’s collectively referred to as mari...
CIF and CFR are essentially the same, except that CIF includes the cost of insurance and CFR does not. For CIF and CFR freight, your supplier will pay all the costs to get your shipment from their destination to the desired port in your destination country. You will stay pay for any imp...
What are Incoterms®? What does the term Ex-Works mean? When the term Ex-Works is used on a shipping document, it means that the goods that are sold by the seller to the buyer will be delivered to the buyer at the seller’s storage facility or factory. ...
What is sea waybill and why most of the containerized cargo shipping like to use sea waybills? What is multimodal transport document? 15.International payment What is the definition of bill of exchange? What are the main parties of bill of exchange...
The term LCL. What does LCL mean? Tips to exporters on Documentation How does a Running bond work? How does Bill of Lading work in DP payment terms? How does Bill of Lading work in Sight LC How does CENVAT Credit work? How does CFR term of delivery work in Export Import business ...
A seller in India agrees with a buyer in Canada on an FOB shipping point. The buyer is responsible for all costs associated with transporting the goods from India. Legal Terms Similar to FOB CIF (Cost, Insurance, and Freight) EXW (Ex Works) CFR (Cost and Freight) CPT (Carriage Paid To...
What Does DDP Mean for an Exporter? DDP indicates that the seller (exporter) assumes all the risk and transportation costs. The seller must also clear the goods for export at the shipping port and import at the destination. Moreover, the seller must pay export and import duties for goods ...