The difference and connection between EXW, FOB, CIF, CFR and the terms of foreign trade quotation

- Jan 04, 2018 -

The difference and connection between EXW, FOB, CIF, CFR and the terms of foreign trade quotation


Foreign trade quotation one, factory delivery price (EXW=Ex Works):

Place of delivery: factory or warehouse of the exporting country;

Transportation: the buyer is responsible;

Insurance: the buyer is responsible;

Export procedures: the buyer is responsible;

Import procedures: the buyer is responsible;

Risk transfer: place of delivery;

Transfer of ownership: transfer with business;


Foreign trade quotations two, FOB=Free on Borad:

Place of delivery: port of shipment;

Transportation: the buyer is responsible;

Insurance: the buyer is responsible;

Export procedures: the seller is responsible;

Import procedures: the buyer is responsible;

Risk transfer: Shipboard of port of shipment;

Transfer of ownership: transfer with the exchange of documents;


Foreign trade quotations three, CIF (cost + freight + insurance, CIF=Cost+Insurance+Freight):

Place of delivery: port of shipment;

Transportation: the seller is responsible;

Insurance: the seller is responsible;

Export procedures: the seller is responsible;

Import procedures: the seller is responsible;

Risk transfer: Shipboard of port of shipment;

Transfer of ownership: transfer with the exchange of documents;


Foreign trade quotation four, CFR (CFR=Cost+Freight):

Place of delivery: port of shipment;

Transportation: the seller is responsible;

Insurance: the buyer is responsible;

Export procedures: the seller is responsible;

Import procedures: the buyer is responsible;


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