|Incoterms in Quotations|
In exporting, the terms quote, offer sheet and price sheet may be used instead of quotation. The basic information that an export quotation should have includes a description of goods, trade terms (e.g. FOB, CFR or CIF), unit price, packing, means of delivery (e.g. ocean or air), delivery time, and payment terms. No strict form is used in the quotation. Using the company letterhead for a general quotation is quite common.
The preferred terms of import quotation, in the ocean freight, of some of the selected importing countries (areas) of the world are as follows:
Importers may request for trade terms not listed above. In practice, importers usually specify the terms of import quotation.
The import duty is often based on FOB or CIF value. Some countries may require itemized charges on the CIF term, that is, showing on the invoice the FOB value, insurance and freight, and may further require the cost of packing material and labor.
Some countries may require that the import and/or export shipments be insured with their national insurance companies.
This information, tools and knowledge do not replace in anyway SCMO advisors professional advices. For any further question, please do not hesitate to contact our office nearest to you.
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