RE:[sap-log-mm] Who controls the CIF value ? is govt or shipping company ?
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 | Posted by priyasatish on May 15 at 4:12 PM |  Mark as helpful |
First of all thanks much for your fast reply .
i was aware that CIF stands for Cost, Insurance & Freight but i was bit confused in calculation of total value CIF for perticular item and govt intervention in this. Now am clear that Govt not controlling this. Can we standerdise this CIF? Is differnt service provider charges varies in this competition business. I am working on stadardisation of cif cost in terms of %. so i can predict the cost of incoming raw material prices by cif %. Is this possible ? Do you have any xl chart to calculate CIF by inputting cost of goods ? Want to create chart to easy my working to calcualte the CIF charges coming from different countries. I import items from Taiwan and china majorly.
---------------Original Message---------------
From: Deepak K. Mehta
Sent: Saturday, May 15, 2010 2:27 PM
Subject: Who controls the CIF value ? is govt or shipping company ?
> Priya,
>
> I did not quite follow the question.
>
> As you are aware, CIF stands for Cost, Insurance & Freight.
>
> Cost is based on the purchase contract with the goods vendor.
>
> Insurance is what you pay for insuring goods against damage typically against loss or damage in transport, handling, pilferage etc.
>
> Freight is what you pay to the transport service provider - it could be a road, railroad, shipping or airline company based on your mode(s) of transport.
>
> The government cannot control these costs and hence the CIF value. It has a role only in the customs and/or other statutory duties and to that extent in the final landed cost.
>
> The transport service provider has a role to the extent of the fright costs.
>
> So, will you please re-state the question (unless some others can answer it the way it has been put and I have missed out on something)?
>
> Regards,
> Deepak
__.____._ i was aware that CIF stands for Cost, Insurance & Freight but i was bit confused in calculation of total value CIF for perticular item and govt intervention in this. Now am clear that Govt not controlling this. Can we standerdise this CIF? Is differnt service provider charges varies in this competition business. I am working on stadardisation of cif cost in terms of %. so i can predict the cost of incoming raw material prices by cif %. Is this possible ? Do you have any xl chart to calculate CIF by inputting cost of goods ? Want to create chart to easy my working to calcualte the CIF charges coming from different countries. I import items from Taiwan and china majorly.
---------------Original Message---------------
From: Deepak K. Mehta
Sent: Saturday, May 15, 2010 2:27 PM
Subject: Who controls the CIF value ? is govt or shipping company ?
> Priya,
>
> I did not quite follow the question.
>
> As you are aware, CIF stands for Cost, Insurance & Freight.
>
> Cost is based on the purchase contract with the goods vendor.
>
> Insurance is what you pay for insuring goods against damage typically against loss or damage in transport, handling, pilferage etc.
>
> Freight is what you pay to the transport service provider - it could be a road, railroad, shipping or airline company based on your mode(s) of transport.
>
> The government cannot control these costs and hence the CIF value. It has a role only in the customs and/or other statutory duties and to that extent in the final landed cost.
>
> The transport service provider has a role to the extent of the fright costs.
>
> So, will you please re-state the question (unless some others can answer it the way it has been put and I have missed out on something)?
>
> Regards,
> Deepak
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