QUOTING PRICE IN INTERNATIONAL TRADE
Hey
Guyz, Happy Monday. Hows your week so
far, great right???. lolz- God has been Faithful and We are grateful. So let's
get started....
1.
Cost, Insurance and Fright (C.I.F)-
This price means that the prices quoted includes the cost of the goods, the
fright and insurance up to the port of destination while the purchaser is
responsible for other subsequent charge.
2.
Free On Board (F.O.B)- means
that the price covers all cost up to the ship including charges, payable for
loading goods on the ship.
3.
Franco- means the price
quoted includes the cost of the insurance, fright and all delivery charges to
the importer's warehouse.
CUSTOM &
EXCISE AUTHORITY
Custom
and Excise Authority is a department in the Ministry of Internal Affairs that
is charged for the collection of taxes imposed on goods, and the regulation and
control of imports and exports in a country. Custom and Excise Authority
collect the following duties:
*
Import Duties are tax imposed
on goods and services imported from other countries into a
