Types of Contracts

  1. PayTrade is a payment service that will refund a customer's money if the purchased car is not shipped.

    PayTrade's service charge is USD 50 + 3.9% of the invoice price. The minimum charge is USD 150.

    There is a charge for using this service, and the cancellation fee is also not cheap.

    The service charge is an additional cost of over USD 100. Once you have paid the fee,you will not easily be able to decide that you like a different used car instead.

    It will be treated as a cancellation even if your used car is damaged during sea transport.

    It is important to understand that PayTrade merely guarantees the"shipping of the item" and does not guarantee the quality or condition of the item itself.

    If you are dealing with an honest merchant, then there is no need for worry.

    Then again, if you are dealing with a shady supplier in the first place it would not have any effect.

    Problems such as the delivery of a car in bad condition or that differs from the photographs, no bill of lading,and a supplier that disappears during the roughly 3 to 4 weeks it takes for the vehicle to arrive afterbeing shipped are all conceivable.

    Similar to PayTrade, this is an intermediary service that guarantees the security of business transactions.

    If the used-car dealer goes bankrupt and the vehicle is never shipped,for example, the buyer can recover payments already made.

    This service is primarily used for dealings between businesses,but due to the popularity of the Internet it has come to be used for transactions between individuals and businesses as well.

    There is a charge for using Escrow, and it does not guarantee that you will be satisfied with the quality of the used car.

    In the end, it comes down to avoiding doing business with unscrupulous dealers.

  2. This is a contractual term indicating that the right of ownership of an item transfers to the buyer at the point in time when the item is loaded onto a transport vessel such as a ship, freight car, or aircraft.

    The exporter is responsible for all costs up to and including the loading of the item at the port of departure,while the importer pays all costs incurred after the item is loaded.

    Ownership of the cargo transfers to the importer at the time when it is loaded onto the ship at the port of departure.

    Under these terms,the price includes freight costs to the port of destination along with the loading costs of the item.

  3. This trade term describes an agreement in which both freight and insurance costs up to the port of destination for the goods are added to the FOB price to arrive at the contract price.

    As with FOB, ownership of the goods transfers from the seller to the buyer when the goods cross the handrail of the ship at the port of loading.

    Risk of loss for the goods also transfers from the seller to the buyer at the point in time when they pass the handrail.

    For those reasons, the safest trade terms for you are CIF.

  4. difference

    CIF is short for "Cost, Insurance, and Freight, named port of destination.

    "Cost" is represented by the FOB price and refers to the cost required to load the goods aboard the transport vessel;"Insurance" and "Freight" refer to the insurance and shipping costs up through arrival of the goods at the port ofdestination.

    C&F is the same as CIF without insurance included.

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