What are similarities and differences among the FOB CFR and CIF?

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What are similarities and differences among the FOB , CFR and CIF?

热搜:做二进制逻辑运算:(xB2XORx57)AND(x96ORNOT(x7D)),

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  • Similarities:
       (1) The mode of transportation: sea or inland waterway transport.
       (2) The place of delivery and risks transfer on the ships rail at the named port of shipment.
       (3) The seller fulfils his obligation to deliver the goods at the named port of shipment within the stipulated time.
       (4) The seller clears the goods for export and the buyer clears the goods for import.
       (5) The seller provides commercial documents for the buyer.
       (6) The seller gives sufficient notice to the buyer after shipment.
       Differences :
       (1) The formation of the unit price: FOB, cost; CFR, cost and freight; CIF, cost insurance and freight.
       (2) The seller contracts for the carriage of the goods under CFR and CIF; the buyer does it under FOB.
       (3) The seller covers insurance for the buyer under CIF; the buyer covers under FOB and CFR.
       (4) The CIF term is called symbolic delivery or document transaction, and under the term, expenses and risks are separated.