What is a FOB?  means Free on Board where the seller pays for transportation to a named port of exit (named by the buyer) from his factory or other places of business which will be selected by the buyer. Cost & Freight – CIF: The seller pays for transportation to a […]

DPU Incoterm 2020, or Delivered at Place Unloaded, is a new term that was adopted by the International Chamber of Commerce (ICC). Delivered at the terminal (DAT) was eliminated by ICC and was substituted by the DPU within Incoterm 2020. Under DPU Incoterm 2020 costs, the risk and obligation remain with […]

 In this article, we’ll look at delivery terms CFR Incoterm 2020 that are frequently used in international commerce: CFR and CIF. CFR: CFR is also known as C& F and CNF. CFR stands for Cost + Freight/strong>. There are three primary elements to the value of an invoice: (FOB value/cost + […]