Hello.
I am considering importing goods to the UK from China for the first time,i have been in contact with a supplier who will supply what i am looking for.I have just recieved an email from them to say the goods will be FOBingo,while i sort of understand the term "FOB" i am confused by "ingo".
Could anyone spare a few mins to reply to this with a brief explaination of both these terms.
Thanks Very Much

Replying to [jim jam]:
I am afraid this is a mistake, please recheck with your supplier for sure.

Replying to [xeon]:
Thaks for you help

Quoting from [jim jam]:


I am going to suggest that it should read "FOB Ningbo"

in other words the PRICE they are quoting you is for the products including delivery to the Chinese port of Ningbo.

That means cost of shipping + insurance is NOT included (nor VAT/ duty etc once it lands in your country)

Replying to [jim jam]:I think your supplier must make a mistake.So far,I've never heard of "ingo".You can call them to confirm the exact port

Replying to [Foow]:

Spot on 100% right,the "N" was left out and it looked like "INGO",please excuse my ignorance but i am new to this and really do appreciate your help.The company i would deal with is based in Ningbo,so am i right in thinking that they will deliver the goods to the docks there and i will be responsible for shipping and all costs?,if so it does not sound like such a good deal.

Once again thanks for your help

Replying to [xeon]:
Thank you it was a mistake.

Replying to [jim jam]:I think you can ask your supplier to make offer basis on CIF for you.

Replying to [Cardboard Display]:

Ive just read all about CIF and that seems the way to go ,just hope it dont affect the price of my goods too much.

Thanks for your help!

Quoting from [jim jam]:


Replying to [Cardboard Display]:


Ive just read all about CIF and that seems the way to go ,just hope it dont affect the price of my goods too much.


Thanks for your help!

Jim,

The price of your godds won't be affected. You HAVE to pay someone to ship the stuff to you... Its all part of what your "Landed cost" will be.

As well as the price of the products you need to allow for (at least) the following costs that you have pretty much NO control over.

Shipping/ Insurance/ Customs Duty (and VAT for you)/ Customs Clearance Agent in the UK (should be about 50 quid)/ and shipping from the port in the UK to your "warehouse"

Once you have calculated ALL those costs in you will end up with a true "landed cost" of the products.

 

Good luck!