Re: What is Payment Terms?
Posted 18 Jul 2011 03:58
FOB means free on board that is if you buy a product at FOB,the cost of shipment,insurance etc will not be in the hands of the seller.But if you buy on CIF that means cost,insurance and freight.With this the seller will ensure the product get to you at you end without you going to pay again for cost,insurance and freight.It becomes part of the total charge or cost.