ContractFob Contract • January 7th, 2022
Contract Type FiledJanuary 7th, 2022The FOB (Free On Board) and CIF (Cost, Insurance and Freight) contracts are involved with international export sale contracts also called ‘export transactions’, although the FOB contract is loosely used in local commercial transactions [1] . These terms have been put in place so as to maintain uniformity, certainty and predictability in international trade agreements.