What is the Difference between FOB and CIF?
When a business carries out an international deal, understanding the different terms used for the movement of goods is necessary. The shipments of goods must undergo legal agreements. In that way, the risk is minimal when things go wrong because it points out the responsibility passed from one party to another – the buyer or the seller. It would be better to choose a trusted logistics company in the Philippines for a smooth and fast transaction without causing delays that might affect the business.Besides, moving freight from international ports requires numerous handling, various methods of transporting, and most cases happen when the shipment stops before reaching the point of delivery.To avoid these issues, there are agreements commonly used to define who will take responsibility for the shipment of goods: Cost, Insurance, and Freight (CIF) and Free On Board (FOB).
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Last Update : Sep 21, 2021 12:44 AM
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