CIF (Cost, Insurance and Freight) means that the seller has the same obligations as under CFR but with the addition that he has to procure marine insurance against the buyer s risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The following CIF price calculation is based on the following formula:
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How mach cif?
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how to calculate fob price
I am expected to provide price CIF Gdansk Poland for a full boat, 6000 or 12,500 tons of bituminous coal from Apapa, Lagos port
It appears to me that the cif calculation is made to look very complex for an ordinary person to understand yet he / she has to do business. So would simplfy it for me and give me a well worked out example showing every thing as represented in a somewhat complex formular. Also send me the formular and it's explanation thanks