If you work in the shipping and logistics sector, you’ll probably find that you frequently have to calculate the cost, insurance and freight (CIF) and Free On Board (FOB) prices when you’re on the move and trying to make accurate negotiations.
Both international shipping agreements, FOB and CIF costs are used in the transportation of goods between a buyer and seller. Previously, calculating these may have meant spending extensive time working out these figures. However, thanks to advancements in business automation, it’s become extremely easy to instantly get the figures you need.
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