INCOTERMS (International Commercial Terms) are a series of international sales terms that are widely used throughout the world. They are devised and published by International Chamber of Commerce (ICC). Given below are few important INCOTERMS used for export price quotation in Letter of credit.
FOB
FOB mean Free on Board. In F.O.B quotation, the price quoted includes cost of goods and all other expenses incurred till the goods are actually loaded on board the ship. This included packing, local transport charges and dock dues including expected profit.
F.O.B. price = Cost of production + Other Incidental Expenses + Profit Margin
C&F
C&F means Cost plus Freight. In C&F the price quoted includes cost of production, incidental charges and freight charges. Here the price includes transport charges till the port of delivery
C&F Price = F.O.B. Price + Freight to the port of destination
C.I.F.
C.I.F. means Cost Insurance Freight. Here the price includes cost of production and all other expenses till the goods reach the port of the buyer for delivery including the Insurance charges.
C.I.F. price = F.O.B. price + Freight + Insurance
FOB
FOB mean Free on Board. In F.O.B quotation, the price quoted includes cost of goods and all other expenses incurred till the goods are actually loaded on board the ship. This included packing, local transport charges and dock dues including expected profit.
F.O.B. price = Cost of production + Other Incidental Expenses + Profit Margin
C&F
C&F means Cost plus Freight. In C&F the price quoted includes cost of production, incidental charges and freight charges. Here the price includes transport charges till the port of delivery
C&F Price = F.O.B. Price + Freight to the port of destination
C.I.F.
C.I.F. means Cost Insurance Freight. Here the price includes cost of production and all other expenses till the goods reach the port of the buyer for delivery including the Insurance charges.
C.I.F. price = F.O.B. price + Freight + Insurance
We OOO PROM TRADING is one of the leading Oil & Gas
ReplyDeletetrading companies in Russia Federation with good business reputation and well experienced in the Petroleum and mining sector. We offer the following trades through our reliable Refineries: D2 DIESEL OIL GOST 305-82, JP54 AVIATION KEROSENE COLONIAL GRADE, UREA 46%/PRILLS, LNG,
LPG, REBCO, MAZUT100 GOST 10585-75/99, AUTOMOTIVE GAS OIL(AGO) ETC. We as well secure allocations from our various Refineries for our numerous buyers who are interested in Spot transactions on FOB/CIF deliveries to any world safe port (AWSP). Our Refineries have their products both
at Russian ports and Rotterdam port.
Best Regards
Mr Andrey Ankudimov
Tel: +7 (987) 897-72-99
Email: serviceandrey.a@inbox.ru
Skype: serviceandrey.a