M. MONTERO
Quoting from [mmail46]:
For a person , who is beginning a business of importing goods, which is better or less complicate to handle, a FOB or CIF terms of payment, and which of them would allow the buyer to reduce the cost of importing, thanks in advance
M. MONTERO
normally it would be FOB
Quoting from [mmail46]:
For a person , who is beginning a business of importing goods, which is better or less complicate to handle, a FOB or CIF terms of payment, and which of them would allow the buyer to reduce the cost of importing, thanks in advance
M. MONTERO
that depends on which term is convenient to you. and some people compare them by price, and some also consider about the custom questions, anyway, that depends on your situation.
Quoting from [mmail46]:
For a person , who is beginning a business of importing goods, which is better or less complicate to handle, a FOB or CIF terms of payment, and which of them would allow the buyer to reduce the cost of importing, thanks in advance
M. MONTERO
What it really depends on is the actual goods being imported and the risk you are willing to take on of in transit damage. Besides this FOB and CIF are not payment terms, they are shipping terms. If you are given a quote of 100pcs FOB for X price it just means the cost of the goods to be placed at the disposal of the carrier. CIF is the price both of the goods and the price to cover the carriage and the insurance of the items. On a Commercial Invoice those costs are seperated. If your looking for a rock bottom quote to see the actual price of the goods before making a purchase ask for a quote based on ExWorks.
Exworks will give you the price of the goods including any and all packaging and crating for pick-up from the supplier. However, if your just starting out do not try to do your initial purchases via ExWorks as you need to understand the process for export clearance from the country where you are making the purchase as you must clear the goods yourself and take on the added expense.
FOB is used widely in all countries and is the basis for Import Duty and Tax unless of course you import via CIF or CFR (Cost and Freight)
Ranger
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Quoting from [mmail46]:
For a person , who is beginning a business of importing goods, which is better or less complicate to handle, a FOB or CIF terms of payment, and which of them would allow the buyer to reduce the cost of importing, thanks in advance
M. MONTERO
1. FOB: The seller will conver all the cost for the good to be delivered at the dispatch port and you will cover the fee from the dispatch port to destination port and all the cost/ fee for local transpotation and insurance if you need
2. CIF: The Seller will conver all the cost such as: freight/ insurance from the dispatch port to destination port and you only conver the cost for the domestic transportation/ insurance from the destination port to your job site
However normally, you can ask the seller to quote you the price for the both FOB and CIF and then you can get the comparation and bring out the final decision for the best price and the way to reduce the most cost and fee
Take care!
Quoting from [mmail46]:
For a person , who is beginning a business of importing goods, which is better or less complicate to handle, a FOB or CIF terms of payment, and which of them would allow the buyer to reduce the cost of importing, thanks in advance
M. MONTERO
better or less complicate to handle :
FOB is less complicated because you dont have to handle freght and Insurance rather than CIF.
reduce the cost of importing :
it's depends on freight+insurance you can get campared to your seller's that usually included in the price (CIF) and your customs regulation and tariff to clearance the goods.
regards