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Category: Main -> Shipping Terms

Question
•  What does CIF mean in shippng terms?
•  What does FOB mean in shipping terms?

Answer
•  What does CIF mean in shippng terms?

C.I.F - cost, insurance and freight

A trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier.

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•  What does FOB mean in shipping terms?

FOB means Free On Board

A trade term requiring the seller to deliver goods on board a vessel designated by the buyer. The seller fulfills its obligations to deliver when the goods have passed over the ship's rail.

When used in trade terms, the word "free" means the seller has an obligation to deliver goods to a named place for transfer to a carrier.

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