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sea freight | Exportain

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sea freight

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sea freight

2 articles

Navy title card: FOB (Free On Board), with a crane lowering a container onto a ship and an On board marker

GlossaryDefinition

FOB (Free On Board)

FOB is an Incoterms® 2020 rule for sea shipments. The seller's job ends when the goods are on board the vessel at the named port; freight, insurance and import costs are the buyer's.

By Naim Islam17 September 20262 min read

Navy title card: CIF (Cost, Insurance and Freight), with a ship, an umbrella for insurance and a route to a destination pin

GlossaryDefinition

CIF (Cost, Insurance and Freight)

Under CIF the seller pays freight and minimum insurance to the destination port, yet the risk moves to the buyer at loading in the port of shipment. Here is what that means on an order from Bangladesh.

By Nourin Tabassum17 September 20262 min read