7.Know-How‎ > ‎

F.A.Q

We have listed up answers here for most of questions which we have received from our valued customer. we believe those Q&A helps you. if you still cannot find the answer for your question please request a call here.

 
Q.How can I clear vehicle from port.
A.This procedure is different from country to country. Click here for more detailsrnational trade
 
Q.What is the difference between FOB & CIF?
A. FOB and CIF are the most two popular price terms of INCO TERMS, defined by ICC to harmonize the possible dispute of arising form the international trade practice.

FOB (Free On Board): Term of sale under which the price invoiced or quoted by a seller includes all charges up to placing the goods on board a ship at the port of departure specified by the buyer. Also called collect freight, freight collect, or freight forward

CIF (Cost, Insurance & Freight): Term of sale signifying that the price invoiced or quoted by a seller includes insurance and all other charges up to the named port of destination. In comparison, carriage and insurance paid to (CIP) terms include insurance and all charges up to a named place in the country of destination (usually the buyer's warehouse). See also cost and freight (C&F, or CFR). The difference between CIF and CFR is the insurance during the transportation

The major difference between CIF and FOB is of the transportation costs and insurance during it.

Q. How to Calculate CIF value of vehicle in Sri Lanka?
A. Chart bellow demonstrate CIF Value calculation
 
Q. What are other charges I have to pay locally.
A. This is depending on country to country. Here is the payments we paid for one of our Honda Insight ZE3 1500cc in Sri Lanka
 
 
 
Depreciation Table for the Valuation of Used Motor Vehicles
 
 Period of Use Depreciated FOB Value
Less than or equal six months 90%
More than 6 months and less than or equal 1 year 80%
More than 1 year and less than or equal 11/2 year 75%
More than 1 1/2 years and less than or equal 2 years 70%
More than 2 years and less than or equal 2 1/2 years 65%
More than 2 1/2 years and less than or equal 3 years 60%
More than 3 years and less than or equal 3 1/2 years 55%
More than 3 1/2 years and less than or equal 4 years 50%
More than 4 years and less than or equal 4 1/2 years 45%
More than 4 1/2 years and less than or equal 5 years 40%
More than 5 years and less than or equal 5 1/2 years 35%
More than 5 1/2 years  30%


Q. What I need for access auction site
A. You need a computer with internet connection.

Q. How you help me for bidding
A. We share our computer screen with you over the internet and explain you all the features of the screen.