SHIPPING TERMS

FOB: Free - On - Board This is the cost of the vehicle excluding ocean freight. If you buy the vehicle on FOB price, it includes the cost of the vehicle and all local expenses.

CIF: Cost, Insurance and Freight This is the cost of the vehicle including all local expenses, Insurance & ocean freight.

C&F: Cost, & Freight. (RORO Based) This is the cost of the vehicle including all local expenses & ocean freight without Insurance.

T.T: Telegraphic Transfer / Wire Transfer This is the best way to transfer your payments. It is the fastest, safest and most effective mode of sending payments.

Bill of Lading (B/L) This document shows proof of cargo ownership and is used for collecting the vehicle at the port. The B/L is a very important document and must be kept safe at all times.

Invoice A shipping invoice may be required at customs to pay import taxes.

Cancellation of Registration This document shows that the vehicle is genuinely for export. It includes technical details and specifications of the vehicle.

Translation of Registration Certificate This is a translated version of the Cancellation of Registration.

Import License A document required and issued by some national governments authorizing the importation of goods.

Irrevocable Letter of Credit Letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee and which cannot be revoked without joint agreement of both the buyer and the seller.

Letter of Credit (LC) A document, issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt by the bank of certain documents within a given time.

Marine Insurance Broadly, insurance covering loss or damage of goods at sea. Marine insurance typically compensates the owner of merchandise for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier.