Our export company made a firm offer for soybeans to the daily newspaper at US$ 0/50 per metric ton/kloc, CIF Osaka. Japanese businessmen asked us to quote FOB Dalian.

FOB=CIF-I-F, which means insurance and freight are not included. Under FOB terms, the seller's responsibility is to transport the goods to the designated port of shipment, and when the goods cross the ship's rail, the risk will pass to the buyer (according to INCONTERMS 2000). Freight and insurance are borne by the buyer.