This saves you money and nerves when importing and exporting. Thomas Meyer, Managing Director ofTBN Logistik & Trade GmbH explains what mistakes are often made when importing and exporting goods.
When it comes to the distribution of costs and risks between buyer and seller, the terms CIF and FOB are important for monitoring restrictions and quotas when importing goods.

What do CIF and FOB mean in connection with import and export?

The CIF means: Cost , Insurance , Freight and refers to a condition that is often used in overseas trade, e.g. between China and Germany. – z. B. zwischen China und Deutschland – oft genutzt wird.

FOB means „free on board“ and is also an Incoterm. Unlike CIF, the importer takes over the goods from the port of shipment and therefore takes care of the transport himself. In this way, there are no unplanned costs!