The effect of changes in FOREX Flashcards
1
Q
Free-on-board (FOB) definition
A
The significant risks and rewards associated with ownership are transferred to the buyer on DELIVERY to the port of departure
the date when the goods are loaded on the originating port
2
Q
Free-on-board (FOB) shipping
A
The BUYER pays for the shipping costs and insurance as well as the price of the purchased items calculated according to the FOB price
3
Q
Cost, Insurance, Freight (CIF) definition
A
The risks and rewards associated with ownership still PASS to the buyer at the port of departure
the date when the goods arrive at the port of final delivery
4
Q
Cost, Insurance, Freight (CIF) shipping
A
The SELLER arranges for the shipping of the items involved
