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COUNTRY PREFERRED INCOTERMS
 
 
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:
 

COUNTRY

TERMS

Argentina

CIF, FOB, CFR

Australia

FOB

Austria

CIF, CFR

Belgium

CIF

Brazil

CFR, CIF

Canada

FOB

Chile

FOB, CFR

China

FOB, FAS

Hong Kong

CIF

Czech Republic

FOB

Denmark

CIF

Egypt

CFR

Finland

CIF

France

CIF

Germany

CIF

Greece

CIF

Hungary

FOB

India

CIF, FOB

Indonesia

CIF

Ireland

CIF

Israel

CIF, FOB, CFR

Italy

CIF

Japan

CIF, FOB, CFR

Korea, South

CIF

Malaysia

CIF

Mexico

FOB

Netherlands

CIF

New Zealand

FOB

Norway

CIF

Pakistan

CFR

Peru

CIF, FOB, CFR

Philippines

CFR

Poland

FOB

Portugal

CIF

Russian Federation

FOB

Saudi Arabia

CIF, CFR

Singapore

CIF

South Africa

CIF, FOB

Spain

CIF

Sweden

CIF

Switzerland

CIF

Taiwan

CFR

Thailand

CIF, CFR

Turkey

CIF

United Arab Emirates

CIF, CFR

United Kingdom

CIF

USA

FOB

Venezuela

CIF, FOB, CFR

 
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 labour.

Some countries may require that the import and/or export shipments be insured with their national insurance companies.
 

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