WAEC - Commerce (2001 - No. 29)
A price quotation that covers the cost of goods and all other expenses incurred in delivering the goods to the buyer is called?
CIF
FAS
Franco
Loco
Uitleg
CIF is a type of price quotation used in international trade that includes the cost of the goods, insurance during transit, and freight charges to the destination port. It ensures that the buyer is aware of the total cost of the goods, including all expenses necessary to deliver the goods to their location.