please tell me the exact meaning of " Price Terms:CNF,CIF and FOB."I want to import some parts from china,but i can't understand the exact meaning of above words so please help me.
2006-07-29 09:21:19 · 13 answers · asked by neetinvora 1 in Business & Finance ➔ Small Business
Here is a guide
http://purchasing.atu.edu/FreightCharges/FreightTerms.htm
2006-07-29 09:24:58 · answer #1 · answered by Sir J 7 · 1⤊ 1⤋
I export to China about twice a week. I am not at work at the minute or I would get the answers out of my book. I normally use CPT for most of my exports. CPT means Carriage Paid To. Normally used in "CPT SHA" meaning "Carriage paid to Shanghai Airport"
FOB. A trade term requiring the seller to deliver goods on board a vessel designated by the buyer
This normally only means they pay to the boat and get it on board. From that point on it is your cost.
CNF includes all freight charges either with insurance (CIF) or not with insurance (CNF)
There are many sites on the net to find these terms. Only a hand full are normally used but the book I have at work has thousands.
What is it that you are having shipped from China? The best way to do it is just send it FOB by UPS. Or call a freight broker like Teamworld Wide UPS or Fed-X. Their fees are really not that bad and it will have to come through one of them anyway to clear US Customs. The only way that you can do it by your self with a broker would be to go get it your self and bring it back with you.
2006-07-29 09:25:30 · answer #2 · answered by Don K 5 · 6⤊ 0⤋
FOB: Free on board, the seller has the responsibility to deliver the goods to a set point. Usually, once the cargo pases the ships rail, it's off their hands.
CIF: Cost of insurance and cargo, the seller has to provide you with all the doc's that's required for the buyer to claim the goods once delivered.
CNF: Cost and freight (often uses CFR instead). Only thing different is the seller doesn't have to provide the insurance for the cargo during the transport.
2006-07-29 09:34:45 · answer #3 · answered by Nikki W 3 · 2⤊ 0⤋
Cif Meaning
2016-09-28 13:59:43 · answer #4 · answered by ? 4 · 0⤊ 0⤋
FOB- Free on Board (or Freight on Board)
CIF – Cost, Insurance and Freight
CNF – Cost & Freight (or Cost, no Insurance, Freight)
2015-06-13 15:44:13 · answer #5 · answered by ? 1 · 1⤊ 0⤋
what is a meaning fob
2016-02-22 23:42:58 · answer #6 · answered by ? 1 · 0⤊ 0⤋
fob sis free on board normally upto port seller has to pay fright
CIF is cost,insurance & fright in this case seller has to pay insurance & fright upto buyer port
CNF is cost & fright this is same as CIF without insurance
2016-05-12 00:34:51 · answer #7 · answered by ? 1 · 1⤊ 0⤋
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RE:
what is the meaning of "CIF,CNF & FOB"?
please tell me the exact meaning of " Price Terms:CNF,CIF and FOB."I want to import some parts from china,but i can't understand the exact meaning of above words so please help me.
2015-08-06 15:19:59 · answer #8 · answered by Anonymous · 0⤊ 0⤋
could any body let me know that on CNF basis...supplier is going to manage the shipment and bearing freight charges....or what it does mean the freight in CNF basis?
2014-02-23 15:54:13 · answer #9 · answered by ? 1 · 0⤊ 0⤋
what is called for buyer no any cost
2013-11-12 04:05:02 · answer #10 · answered by ? 1 · 0⤊ 0⤋