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Confused about FOB & CIF QUOTES 7 replies,10305 views

#1

I have asked for some quotes for new products that we tend to bring in.

In the first email, the seller  mentioned 'Please find FOB XXXXX port prices and details' which consist of individual item price. And to let him know if I want C&F cost plz let him know the name of my international sea port.

I then replied to him the quote on C & F.  He replied 'The price for C & F (Singapore port) = 300 USD, for 20 fit container which contain upto 24000 kg weight.

(Correct me if I am wrong) To my understanding C & F terms is cost of goods & freight.  If this is so, how the seller know which item I want to buy? Or maybe USD300 is only the freight cost.

So I am not sure what he mean.  I have replied to him with the same question, but has not received any reply as yet. 

Anyone can help me to figure.[em28]

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#2
Re: Confused about FOB & CIF QUOTES
Yes normally C&F Price mean cost of goods and freight. However you may want to double check with the supplier if he included the cost of goods as well or he just told you the freight cost upto destination seaport...
#3
Re: Confused about FOB & CIF QUOTES

FOB is one of the more common Incoterms (International Commercial Terms) accepted by Importers/Exporters around the world

FOB - FREE ON BOARD (... named port of shipment)


and


CNF (or C&F)/ CFR is one of the more common Incoterms (International Commercial Terms) accepted by Importers/Exporters around the world

CFR: COST AND FREIGHT (at named port of destination)

"Cost and Freight" means the seller's responsibilities are concluded once the goods pass the ship's rail at the port of shipment.


so its so simple to understand cif included cost of goods. insurance and freight from suppliers port to your port and in fob just fright from suppliers factory to suppliers port.



#4
Re: Confused about FOB & CIF QUOTES
Quoting from [Admire Diamonds]:

I have asked for some quotes for new products that we tend to bring in.

In the first email, the seller  mentioned 'Please find FOB XXXXX port prices and details' which consist of individual item price. And to let him know if I want C&F cost plz let him know the name of my international sea port.

I then replied to him the quote on C & F.  He replied 'The price for C & F (Singapore port) = 300 USD, for 20 fit container which contain upto 24000 kg weight.

(Correct me if I am wrong) To my understanding C & F terms is cost of goods & freight.  If this is so, how the seller know which item I want to buy? Or maybe USD300 is only the freight cost.

So I am not sure what he mean.  I have replied to him with the same question, but has not received any reply as yet. 

Anyone can help me to figure.[em28]



It is no wonder he did not reply you. He may be thinking you are 1). playing with him, 2). not a real/serious buyer, 3) a problem case. In which case, he may have lots of follow up work even if business is agreed.

Let me explained.  He has given you FOB price, which is actually the price he is selling to you or the selling price. When you ask for C & F price, he therefore, quote you the freight cost and he elaborate by saying it is 20 footer and 24T weight. You will only have to add it to your FOB price.

If you questioned him, you have show him your naiveness, worse he may think that you are trying to insult him.

If you still want the deal, follow up with a apology letter and explained that you are inexperience and seek his assistance. AND, don't forget to recheck with expert in any further happening that you are unsure.

We all started knowing nothing

 

#5
Re: Confused about FOB & CIF QUOTES

Let me explained.  He has given you FOB price, which is actually the price he is selling to you or the selling price. When you ask for C & F price, he therefore, quote you the freight cost and he elaborate by saying it is 20 footer and 24T weight. You will only have to add it to your FOB price.

_______________________________________________________________________________________

He replied me 'frieght 300 USD that is for a container'.  Now, is it the container charge or freight charge or both ?

#6
Re: Confused about FOB & CIF QUOTES

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#7
Re: Confused about FOB & CIF QUOTES
Quoting from [Admire Diamonds]:

I have asked for some quotes for new products that we tend to bring in.

In the first email, the seller  mentioned 'Please find FOB XXXXX port prices and details' which consist of individual item price. And to let him know if I want C&F cost plz let him know the name of my international sea port.

I then replied to him the quote on C & F.  He replied 'The price for C & F (Singapore port) = 300 USD, for 20 fit container which contain upto 24000 kg weight.

(Correct me if I am wrong) To my understanding C & F terms is cost of goods & freight.  If this is so, how the seller know which item I want to buy? Or maybe USD300 is only the freight cost.

So I am not sure what he mean.  I have replied to him with the same question, but has not received any reply as yet. 

Anyone can help me to figure.[em28]



This is the freight charges for 1 x 20' container load. It is all inclusive 
#8
Re: Confused about FOB & CIF QUOTES
FOB is free on broad, CIF means is cost and insurance &shipment

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