Which is cheap? Insurance in Sri Lanka or in China?
Post 1 of 17
Dear Friends,
Which is cheap? C&F or CIF?
I am from Sri Lanka. Which will be cheap for me ? If I give the insurance in Sri Lanka or If i get the insurance in China?
Which one?
06 May 2007 07:07
Post 3 of 17
Replying to [mirna]:cnf:cost and freight
cif :cost and insurance and feight!
if you export,you should buy insurance from your own right,
cif :cost and insurance and feight!
if you export,you should buy insurance from your own right,
06 May 2007 17:26
Post 4 of 17
Replying to [mirna]:
C&F is Cost and Feight
CIF is Cost and Insurance and Feight
I think Insurance is demanded for you,it is can be a guarantee of safe![[em3]](http://img.alibaba.com/images/eng/style/icon/emoticons_grin.gif)
And it is not so dear.
C&F is Cost and Feight
CIF is Cost and Insurance and Feight
I think Insurance is demanded for you,it is can be a guarantee of safe
And it is not so dear.
06 May 2007 18:55
Post 5 of 17
Replying to [mirna]:
it depends on the insurance premium rates.
it depends on the insurance premium rates.
07 May 2007 11:40
Post 6 of 17
Replying to [mirna]:Dear Mirna
You should get quotations from either broker you could hire.
I prefer a different approach, when I import, I buy FOB Port name.
I have an agent who takes care of the flete and insurance, and his services. The advantage I have with that scenario is that I can pay those charges in America when the cargo arrives. Plus, I can pay dues with Business Credit Card, so I have additional 30 days grace period to pay in-full for the transportation costs. In the meantime I may have sold a pig percentage of the product to cover those expenses. Don't worry much, you will find out whichever works for you with less headache. TYour focus is to bring the product to your market quickly. Sometimes you need to try different options and stick with the one you feel more comfortable.
Vicente Huaman
You should get quotations from either broker you could hire.
I prefer a different approach, when I import, I buy FOB Port name.
I have an agent who takes care of the flete and insurance, and his services. The advantage I have with that scenario is that I can pay those charges in America when the cargo arrives. Plus, I can pay dues with Business Credit Card, so I have additional 30 days grace period to pay in-full for the transportation costs. In the meantime I may have sold a pig percentage of the product to cover those expenses. Don't worry much, you will find out whichever works for you with less headache. TYour focus is to bring the product to your market quickly. Sometimes you need to try different options and stick with the one you feel more comfortable.
Vicente Huaman
07 May 2007 16:00
Post 7 of 17
Replying to [mirna]:If C&F ,you can buy insurance in your country .As the insurance seller can earn more .
If CIF, your foreign partner pay for the insurance,and they also has to charge you more fees. As you know ,your partner has to pay for the cost ,insurance and freight ,
So in my mind ,C&F is cheaper and you can contribute to your country too.
Why not C&F??
If CIF, your foreign partner pay for the insurance,and they also has to charge you more fees. As you know ,your partner has to pay for the cost ,insurance and freight ,
So in my mind ,C&F is cheaper and you can contribute to your country too.
Why not C&F??
07 May 2007 18:30
Post 8 of 17
Replying to [mirna]:which one is cheaper?it depends on the insurance rate. as I know, the insurance rate is cheaper in China than Europe, USA and Canada. the other coutries I'm not sure.
07 May 2007 18:36
Post 9 of 17
Replying to [mirna]: Hi, Friend I have read your qustion message.
C&F is cheaper than CIF. Because C&F has not include insurance.
You mentioned you have insurance. So I think C&F using is better.
Have a good day
Hoyol
P.S If you have any qustion, feel free to send a mail.
hoyollee@hotmail.com
C&F is cheaper than CIF. Because C&F has not include insurance.
You mentioned you have insurance. So I think C&F using is better.
Have a good day
Hoyol
P.S If you have any qustion, feel free to send a mail.
hoyollee@hotmail.com
07 May 2007 19:40
Post 10 of 17
Replying to [mirna]
At first glance, C&F will look cheaper because the insurance is not included in the unit price that you paid.
However, you will still have to pay for the insurance in your country if you choose C&F.
I suggest that you ask your broker in Sri Lanka how much the insurance will cost (it usually depends on the total value of the shipment). At the same time, ask your supplier in China how much it will cost you if they arrange the insurance at their side and add it on to the unit price, thus, converting from "C&F" to "CIF". You can then compare the cost of insurance in Sri Lanka and China.
From my experience, it is sometimes cheaper to buy "CIF" because major suppliers have "blanket" arrangements with their insurance companies under which all their export shipments are insured. Because of this special arrangement with the insurance company, suppliers are able to avail of preferential rates (due to bulk), which you may never get if you are a small importer.
Either way, the key is to compare costs. Good luck!
![[em1]](http://img.alibaba.com/images/eng/style/icon/emoticons_smile.gif)
At first glance, C&F will look cheaper because the insurance is not included in the unit price that you paid.
However, you will still have to pay for the insurance in your country if you choose C&F.
I suggest that you ask your broker in Sri Lanka how much the insurance will cost (it usually depends on the total value of the shipment). At the same time, ask your supplier in China how much it will cost you if they arrange the insurance at their side and add it on to the unit price, thus, converting from "C&F" to "CIF". You can then compare the cost of insurance in Sri Lanka and China.
From my experience, it is sometimes cheaper to buy "CIF" because major suppliers have "blanket" arrangements with their insurance companies under which all their export shipments are insured. Because of this special arrangement with the insurance company, suppliers are able to avail of preferential rates (due to bulk), which you may never get if you are a small importer.
Either way, the key is to compare costs. Good luck!
07 May 2007 23:08
Post 11 of 17
Replying to [moppet]:i think c&f
Edited by the moderator
Edited by the moderator
08 May 2007 10:22