FOB means Free On Board. This means that the goods will be deemed to be delivered to the Buyer at the point that the goods pass the ship's rail. CIF means Cost, Insurance and Freight. This means that the Seller is providing a price which includes the cost of the goods, the insurance of the goods for their journey to their destination port/unloading point, and the cost of the ocean freight or whichever method of freight is being used to transport the goods to the Buyer. C&F is also sometimes termed as CFR. This means cost and freight, and is where the Seller is providing a price which includes the cost of the goods and of the freight, but NOT insurance. Therefore it is similar to CIF but does not include insurance of the goods on their journey to the Buyer.