What is the difference among FOB and CIF and CFR?
FOB and CIF are the most two popular price terms of INCO TERMS, defined by ICC to harmonize the possible dispute of arising form the international trade practice. FOB (Free On Board): Term of sale under which the price invoiced or quoted by a seller includes all charges up to placing the goods on board a ship at the port of departure specified by the buyer. Also called collect freight, freight collect, or freight forward.