An instruction indicating that all freight charges on a shipment of goods will be paid by the consignee upon receipt.
A CIF contract of sale includes the cost of the goods, insurance, and freight to the destination in the contract price. The seller’s obligation is fulfilled once the merchandise is delivered to the shipper, and relevant documents including the bill of lading, invoice, insurance policy, and payment receipt for freight are forwarded to the buyer.
COD or 'Collect on Delivery' is a financial transaction where payment for goods is collected at the time of delivery rather than at the time of purchase. This term is often used interchangeably with 'Cash on Delivery'.
Cost and Freight (C&F) denotes a shipping agreement wherein the seller is responsible for covering the cost and freight to transport goods to a specified destination. However, the buyer assumes the responsibility for insurance once the goods are loaded onto the shipping vessel.
Cost, Insurance, and Freight (CIF) is a trade term used in international shipping to indicate that the seller covers the cost, insurance, and freight charges up to the destination port.
Free In and Out (FIO) denotes a selling price that includes all costs associated with loading goods into a container, road vehicle, ship, etc., and unloading them out of the transport.
Free on Board (FOB) is a term used in international commerce to distinguish the point at which the seller relinquishes all ownership, responsibility, and risk for the shipped goods.
