What Is the Difference Between Incoterms Like EXW, FOB & CIF?
Understanding EXW, FOB, and CIF Navigating international trade can be complex, especially with terms like EXW, FOB, and CIF. These terms define the responsibilities, costs, and risks for buyers and sellers. Understanding these differences is crucial for smooth transactions. EXW, FOB, and CIF1 differ in who bears costs and risks during the shipping process. Knowing […]
What Are the Most Common Trade Terms I Should Know As A Procurement Buyer?
Common Trade Terms Overview Procurement buyers often encounter various trade terms, and understanding them is essential for smooth transactions. These terms define responsibilities, costs, and risks in international trade. Common trade terms like Incoterms1 help buyers understand shipping responsibilities, costs, and risks, ensuring better decision-making in procurement. Grasping these terms will empower you to negotiate […]
How Can I Estimate the Total Cost of My Purchase, Including Shipping And Duties?
Cost Breakdown Overview When it comes to purchasing goods, hidden costs like shipping and duties often catch people off guard. It’s crucial to understand how to estimate the total cost accurately. To estimate your total purchase cost, include product price, shipping fees, and duties. Each factor varies by region and supplier. Understanding these costs upfront […]
