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1、 毕业论文设计 课题名称: Comparison Between CIF Term And FOB Term 学生姓名：Jacquelinechan 学生学号：XXXXXX 系 别：外语系 专 业：商务英语 年 级：XXXXX 层 次：大学本科 指导老师：XXX 设计日期：2010 3月Comparison Between CIF Term And FOB TermAbstract Nowadays trade terms have play an important role in the international trade affairs. There is a strong bond
2、 among the terms agreed upon both sides and the responsibilities between two trading partners. Then CIF trade term and FOB trade term is adopted and supported by international merchants more and more popular in recently. This thesis will introduce some corresponding functions and responsibilities of
3、 CIF term and FOB term in details and there will be a comparison between FOB term and CIF term according to the international situation.Keywords: International .trade affairs .trade terms . CIF .FOB中文摘要现今贸易术语在国际贸易实务中扮演着极其重要的角色，它紧密联系着双方贸易的条件与责任。而CIF术语和FOB术语在近期受到了越来越多国际贸易商家的采用和支持，本论文将对CIF和 FOB术语的对应功能与
4、责任作一个详细的介绍并结合当今世界发展形势对两者作相关比较。关键词：国际贸易实务 贸易术语 CIF术语 FOB术语Catalog1.Introduction1.1 trade terms2.FOB term and CIF term2.1 What is FOB2.2 What is CIF2.3 The responsibility both two parties under FOB term and CIF term 3.Comparing with FOB term and CIF term, study how to choose the appropriate trade term
5、s in international trade affairs.3.1 About charges3.2 About the right of booking space3.3 About insurance3.4 About delivery types3.5 About risk3.6 How to choose CIF term and FOB term 3.61 From the perspective of exportation3.62 From the perspective of importation3.63 Nowadays the trend in internatio
6、nal trade4.Concultion1.Introduction 1.1 trade terms First of all, getting a good understanding of trade terms Is very important for people to read this thesis more clearly. So now I will introduce something about trade terms. In international trade ,price term lies at the core of the terms and condi
7、tions of a contract and often results in some of the key problem for which an exporter and an importer have to strive. Whats more, sending goods from one country to another, as part of a commercial transaction, can be a risky business. If they are lost or damaged, or if delivery does not take place
8、for some other reasons, the climate of confidence between the parties may degenerate to the point where a lawsuit is brought. Thus, the pricing problem an exporter and an importer deal with is far more complicated than that in domestic trade. Besides the cost covered in the calculation of export pri
9、ce , the price quotation in export trade should also indicate which party is to bear the expenses of freightage , insurance and other relevant charges, and which party is to bear the risks in case of the goods being damaged. In order to complete their deals successfully, the sellers and the buyers i
10、n international contracts had better, at the very beginning of the deal, make clear to each other their respective obligations and find the full expression of those in the trade terms. There is no doubt that under no circumstance can a buyer get a quotation without trade terms in international trade
11、. Trade terms are short terms and abbreviations which are used to explain the price composition, to define the method of delivery of the goods sold, to indicate which party bears the freight, insurance and other relevant charges, and assume the liability in case damage or loss of the goods occurs. T
12、rade terms ensure both exporter and importer know their own responsibility. In foreign trade, there are various prices for the same commodity. Granting that the cost of a certain commodity is the same ex-factory, the prices quoted by the seller will vary with the point of delivery. For example, in t
13、he case of a contract based on CIF terms as “CIF London” stated above, that means the seller bears all the cost, fright and insurance up to the named port of destination, here, “London” 2.FOB term and CIF term2.1 What is FOB As one of the important trade terms. FOB term is frequently used in interna
14、tional trade. Thus it is quite necessary to know the exact meaning of it. According to Incoterms 2000, we can know that FOB is short for Free on Board. It stipulates that the seller fulfils his obligation to deliver when the goods have passed over the ships rail at the named port of shipment. At the
15、 same time, this means that the buyer has to bear all costs and risks of loss of or damage to goods from that point. The FOB term requires the seller to clear the goods for export. This term can only be used for sea or inland waterway transport.2.2 What is CIF According to Incoterms 2000. CIF is sho
16、rt for Cost, Insurance and Freight. That means the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered
17、on board the vessel, is transferred from the seller to the buyer when the goods pass the ships rail at the port of the shipment. In addition, the seller has to procure marine insurance against the buyers risk of loss of or damage to the goods during the carriage. The seller contracts for insurance a
18、nd pays the insurance premium. The buyer should note that under CIF term the seller is only required to obtain insurance on minimum coverage. The CIF term requires the seller to clear the goods for export.2.3 The responsibility both two parties under FOB term and CIF term About the responsibility bo
19、th two parties under FOB term and CIF term, I will not make a detail statement here, and I think a form maybe more suitable for people to get a good understanding about them. Lets see the form as follow: Terms FOB CIFChargesThe seller pays all costs relating to the goods until such time as they have
20、 passed the ships rail at the named port of shipment.Being transferred from the seller to the buyer when the goods pass the ships rail at the port of the shipment.Point for division of riskBeing transferred from the seller to the buyer when the goods pass the ships rail at the port of the shipment.B
21、eing transferred from the seller to the buyer when the goods pass the ships rail at the port of the shipment.Booking spacebuyer sellerInsurancebuyerThe seller contracts for insurance and pays the insurance premium.Delivered termsactual deliverysymbolic delivery3.Comparing with FOB term and CIF term,
22、 study how to choose the appropriate trade terms in international trade affairs.In different case trader may choose different terms. Just like FOB term and CIF term, whether trader can choose a right term or not is important for a deal.3.1 About charges Comparing with FOB term, the point for divisio
23、n of risk of CIF term is the port of discharge.3.2 About the right of booking space About the right of booking space, the right is controlled by the seller and they can choose the named carrier and ship under CIF term. But under FOB term. The buyer takes charge of the booking space. So, in fact, the
24、 seller has to wait for the ship which is named by the buyer , in addition , the goods have to be checked by the carrier before shipment.3.3 About insurance Under CIF term, the seller has to procure marine insurance against the buyers risk of loss of or damage to the goods during the carriage. Furth
25、ermore the buyer should note that the seller is only required to obtain insurance on minimum coverage. If the buyer wants another higher insurance coverage, he should make a deal with the seller definitely, and make another arrangement for the extra premium. But under FOB term, the seller has no res
26、ponsibility to cover insurance; the buyer should cover insurance by themselves. If the goods are loss of or damaged before pass the ships rail at the named port of shipment, the seller should bear all the losses because the goods didnt pass the ships rail. Although the seller enjoys the insurable in
27、terest, but he is not the named person of the insurance policy which the buyer holds and they cant prove the relation with the insurer. At the same time, the buyer holds the insurance policy, but he is not enjoy ownership of the goods, So he also has not enough conditions to claim for the insurer. U
28、nder this situation, the goods absolutely havent any guarantee. So we can know that if under CIF term, the trader can avoid those problem .Cause firstly, the seller covers insurance. Secondly, the seller holds the insurance policy. Thirdly, the seller enjoys ownership of the goods, he is provided wi
29、th the insurable interest, he has the right to claim for the insurer.3.4 About delivery types About delivery types, it is symbolic delivery under CIF term. And FOB term is actual delivery. Symbolic delivery means that as seller finish the shipment at the named place in available time , and shows som
30、e related documents including documents of title to the goods to the buyer compliance with the contract, the seller fulfills the obligations of delivery, and he neednt make sure whether the goods are arrival or not. Then, actual delivery is the seller should delivers the goods according to the contr
31、act to the buyer or named people at the named place on specified time. he cannot make the documents replaces the goods. Under symbolic delivery the seller delivers the goods according to the documents. The buyer pays for the goods according to the documents. As the seller provides all the documents
32、fit the stipulations of the contract, the buyer should pay for the goods even though the goods are losing or damaged during transportation. So under CIF term the seller should try their best to provide some documents for the buyer as soon as possible when the goods are took onto the ship. In additio
33、n , the documents should be available, then also require they are valid and have legal effect, otherwise, the buyer has right to reject the goods and claim for the seller according to the contract , at the same time , the bank will not take charge of that.3.5 About risk Risk is an important part of
34、the international trade. The trader should make a consideration about risk when they decide to use CIF or FOB. Everybody knows that business including risk. If one people want to run a business, that means he should have brave to bear risk. Especially in international trade, the situation is more co
35、mplicated, the trader may meet more risks. Under FOB term as the buyer controls the right of booking space, the seller may face fraud risk if the buyer hand in glove with the shipping company which he named. The seller may lose the goods and money at the same time. In addition, cause FOB term values
36、 cooperation both two parties. There is a problem of booking space, the seller take the goods to the named port of shipment. The buyer takes charge of booking ship, if one of the parties has some problem. That will bought much losses to anther party. Furthermore, the trader should pay attention caus
37、e that the buyer has right to booking space. So the seller is the passive party, if the market has some fluctuation. The buyer may take action to delay shipment to lead to the letter of credit out of date. And unwilling to fulfill the contract, or lower the price with a new negotiation. And under CI
38、F term, as the seller have right to booking space. So also exists some problems just like the seller will hand in glove with the shipping company. Whats more, a sharp character of CIF term is symbolic delivery. The seller delivers the goods according to documents. When after the buyer pays for the g
39、oods, the seller may disappear.3.6 How to choose CIF term and FOB term 3.61 From the perspective of exportation If the trader chooses FOB term to export, it seems that he can save much time; he neednt book space and neednt find an insurance company to cover his goods. But at the same time, it may ca
40、use a lot of problems. The exportation under CIF term. At first, exporter may transfer some benefits to importer which he can get from booking space. On the one hand, it will cause a loss to economy, on the other hand, freight forwarder from export state may lose some economic benefits of transporta
41、tion, do not good to the development of freight forwarder. In addition, if the exporter loses his right of transport, that will provide a way for importers and freight forwarder which from other countries to deceive the exporter. If the trader choose CIF term to export. Under CIF term, the seller ha
42、s right to book space and look for an insurance company to cover the goods which he believes. So the exporter may have more guarantee and flexible time. Firstly, the seller can make an arrangement for shipment according to their rate of progress. If there something wrong with one shipping company, t
43、he seller can find another one to instead. Theres no doubt that this term can reduce the risk and save more time and money for shipment. Secondly, the sellers can really controls the goods. Under CIF term, the sellers will find some famous and familiar shipping company which with a good reputation,
44、that can evade some moral hazard. In transportation, reduce the risk of discharging goods without bill of lading. Even though some situation will occur just like the documents are not fit or the buyer do not pay for the goods, the seller will not lose their goods and money in the end. Thirdly, incre
45、asing the flexibility of the international trade. When the price of the goods are getting more higher and higher, the sellers under CIF term in order to avoid import goods for manufacturers during the price spike, they may delay the time of shipment. On the contrary, if the price is declining, the s
46、eller under CIF term can import goods from supplier with a low price, booking space and pay for the goods in a short time as soon as possible. Finally, the seller can make a shipment at once when the goods are prepared, that can save the money and time. Thus, the seller chooses CIF term to export ca
47、n guarantee his benefits and reduce the risk.3.62 From the perspective of importation The trader may get more benefits when they use FOB term to import. Firstly, the importer control the right of booking space, that can preclude the seller hands in glove with the carrier. Secondly, even though its s
48、till cash against payment. But cause the carriage contract is signed by the buyer, so lots of matters will be considered in all aspect. Actually the buyer will find some carriers with a good ability and reputation before he signs a contract. The goods will be transported more safely by a carrier which is named by the buyer. Thirdly, as the import should cover insurance and pay for the premium