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FOB (free on board) is a term in ... If the same seller issued a price quote of "$5000 FOB Miami", then the seller would cover shipping to the buyer's location.
CIF requires the seller to insure the goods for 110% of the contract value under Institute Cargo Clauses (A) of the Institute of London Underwriters (which is a change from Incoterms 2010 where the minimum was Institute Cargo Clauses (C)), or any similar set of clauses, unless specifically agreed by both parties.
Uniform delivered pricing is the opposite of the FOB origin pricing, as the same price is quoted to all customers. The transportation costs are averaged across all buyers, and the nearby customers are in effect subsidizing the faraway ones (paying more for the delivery than it costs the seller, the difference is called the phantom freight).
Import parity price or IPP is defined as, “The price that a purchaser pays or can expect to pay for imported goods; thus the c.i.f. import price plus tariff plus transport cost to the purchaser's location. This and the export parity price together define a range of the possible equilibrium prices for equivalent domestically produced goods”. [1]
The CISG describes when the risk passes from the seller to the buyer [52] but it has been observed that in practice most contracts define the seller's delivery obligations quite precisely by adopting an established shipment term, [45] such as FOB and CIF. [53] Remedies of the buyer and seller depend upon the character of a breach of the contract.
The average $25,000 price of a car imported from Mexico or Canada could jump $6,250 if the tariffs take effect, according to an analysis by S&P Global Mobility. The automotive research firm ...
International commercial contracts are sale transaction agreements made between parties from different countries. [4]The methods of entering the foreign market, [5] with choice made balancing costs, control and risk, include: [6]
A line of unsold 2024 F150 and Lightning electric pickup trucks sit at a Ford dealership on Sunday, May 19, 2024, in Denver. (AP Photo/David Zalubowski, File) (ASSOCIATED PRESS)