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FOB / CIF

Here is an explanation of FOB and CIF, and the differences between the two types of charges.

Learn the key differences between FOB, CIF, and other shipping terms for Japan car auction exports. This guide explains costs, insurance, and responsibilities in international trade.

FOB (Free on Board)

FOB (Free on Board) means that the seller delivers the goods to the port of shipment and places them on board the ship. The buyer is responsible for the cost of marine freight transportation, insurance, and other costs once the goods are on board. The risk and responsibility transfer from the seller to the buyer once the goods are on board the ship.

Advantage :

  • The seller's responsibility ends once the goods are on board, reducing their risk.
  • The buyer has control over the shipping process and can choose their own carrier and insurance.

Disadvantage :

  • The buyer has to arrange and pay for shipping and insurance.
  • Increased administrative burden for the buyer to manage shipping logistics.

CIF (Cost, Insurance, and Freight)

CIF (Cost, Insurance, and Freight) means that the seller covers the cost of marine freight transportation, insurance, and other costs until the goods reach the destination port. The seller is responsible for the risk and cost until the goods are delivered to the destination port. Once the goods arrive at the destination port, the risk and responsibility transfer to the buyer.

Advantage :

  • The buyer does not have to worry about arranging and paying for shipping and insurance.
  • Lower administrative burden for the buyer.

Disadvantage :

  • The seller has a higher risk and responsibility until the goods reach the destination port.
  • The buyer has less control over the shipping process and the choice of carrier and insurance.

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