FOB and CIF are INCOTERMS or international commercials terms (terms of sale).
cif will paid throw of shipper. fob will paid throw of buyer.
exw + FOB
fob
- CIF is Cost, Insurance and Freight - FOB is Free on Board
Exw, fob, ddu, ddp
The ENCO terms are CIF and FOB
Incoterms 2000 is an old set of Incoterms. Yo still can use these rules but be careful to mentio the version and exact place of delivery. Example: FOB Rotterdam seaport according to Incoterms 2000. When you study the books you see that there a differences between the 2000 and 2010 version.
whats the difference between fob and ldp
Some of the delivery terms in the USA have the same three-letter abbreviation as in the Incoterms Standards. These delivery terms are defined within the United States federal and are inconsistent with the Incoterms Standards.UCC stands for Uniform Commercial Code. Due to potential confusion with domestic North American usage of FOB, it is recommended that the use of Incoterms be explicitly specified, along with the edition of the standard. For example, "FOB New York (Incoterms 2010)".
CIF Means :- cost ,insurance & freight charges beared by exporter & FOB means free on board exporter will beared the charges till shipment & after that he will be not responsible for any charges related to consighnment.
FOB stands for Free on Board. It means that the buyer determines how the item is shipped and the seller must oblige and get it there. CIF stands for Cost, Insurance and Freight. This means the seller must arrange for transportation and provide papers to the buyer.