What do CIF and FOB mean in shipping terms?

Answer

These are global shipping terms which are used in international trade. CIF. means Cost Insurance and Freight. That means the shipper/trader has to pay the cost of shipment up to the ship, insurance cost of cargo and freight cost up to destination
Q&A Related to "What do CIF and FOB mean in shipping terms?"
CIF: a sales contract term indicating that price includes cost, insurance and freight. FOB: Free On Board or Freight On Board, terms used in commercial shipping.
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FOB DESTINATION The seller retains title and control of goods until
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Shipping term used to indicate who is responsible for paying transportation charges. It is the location where ownership of the merchandise transfers from seller to buyer. FOB Destination
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These are global shipping terms which are used in international trade. CIF. means Cost Insurance and Freight. That means the shipper/trader has to pay the cost ...
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