Which method of valuation for tariffs includes transportation changes?
A) FAS
B) FOB
C) CIF
D) OMB
E) EXF

Question

Quizplus · Accepted Answer

CIF is a trade term that means the seller pays for the cost of the goods, the marine insurance, and all transportation charges needed to bring the goods to the port of destination. In a CIF agreement, the seller is responsible for covering these costs, which are then factored into the price of the goods when calculating the value for tariff purposes. This valuation is important for determining customs duties and taxes upon the goods' arrival in the destination country.

Which Method of Valuation for Tariffs Includes Transportation Changes