FOB stands for Free On Board and CIF stands for Cost, Insurance, and Freight. The difference between the two is that when a shipment is sent out as FOB, the buyer assumes the responsibility of goods once they reach the port of their destination. In comparison, with CIF shipping, responsibi...
There are certain hidden costs involved with transporting goods, such as insurance costs and finance charges, and when businesses work with freight forwarding agencies they have the experience to take all of these costs into consideration. SeaRates offers ways of upgrading your freight forwarding bus...
In CIF, the seller is responsible for most costs and documents. Buyers get less paperwork and don’t have to worry about contacting carriers and freight forwarders. But, this does not necessarily mean that CIF is the best incoterm for every client. Remember, the seller transfers the risk to...
At the right cost Get all of these, well, right, and your business will stay competitive. What does logistics mean in business? In business, logistics is all about managing the journey of goods – from sourcing raw materials to delivering the final products to customers. It covers every...
Packages that are out for delivery occur within the last of these three stages. Let’s look at what’s involved in each stage and especially in the last mile for a better understanding of the answer to the question, “What does out for delivery mean?” ...
Freight prepaid is a notation on bills that ensures purchasers of goods should not pay the carriers. It cites the case between Molson Brewery and its supplier Consumers Glass against its truckers. Molson's defense is that it had not received invoices from the truckers and had never been ...
4. FOB [place of destination], Freight Prepaid The seller has ownership and liability for the shipment until it arrives at its destination and pays the shipping cost. Why Is This So Important? A 2018 study by Ki-Moon Han called “A Study on misguided use of FOB and Related Contracts” ...
How does Royale International commit end-to-end logistics? Time Critical solutions are essential for supply chains with multiple stakeholders, especially in industries like automotive, aerospace, and life sciences, where products are expensive and time is of the essence. Strategies such as constant and...
What does Breakbulk Express mean in shipping terms? Also known as open cargo shipping, breakbulk shipping involves loading items onto pallets, drums, crates or skids instead of large containers, making it easier to separate products so they can be shipped to different locations. It ca...
What does FOB Mean in Shipping Terms? Free on Board, or FOB is an Incoterm, which means the seller is responsible for loading the purchased cargo onto the ship, and all costs associated. The point the goods are safe aboard the vessel, the risk transfers to the buyer, who assumes the ...