Question

2 Please give the 7 incoterms definition for FAS, FOB, CFR and CIF for sea or inland waterway transport. And explain what are the differences among them. Also draw the picture of each incoterm.
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Answer #1

Differences:

FAS means free alongside ship means that fulfiller is obliged to deliver goods have been placed alongside vehicle at port of shipment. Here seller does not pay for insurance and freight.

FOB means seller is obliged to fulfill delivery of goods when goods have passed over rail at shipment port. Here insurance risk is not paid by seller.

CFR means seller pays for carriage of goods upto named destination port.Here seller does not pay for insurance .

CIF Means cost insurance and freight where seller pays for when goods pass onto ships rail. Seller has to beae cost, freight and insurance.

AGE PORT PORT selen est Baste? Cost Foe PORT PORT S Risk PORT Scutlor Kist Buyer PORT seler Cost Buuye Cost

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