Glossary of Terms

Understanding Key Terms in Vehicle Export

• FOB (Free on Board): Price excluding shipping cost; vehicle delivered to port
• CIF (Cost, Insurance, Freight): Price including shipping and insurance
• RoRo (Roll-on/Roll-off): Shipping method where vehicles are driven onto the vessel
• Container Shipping: Vehicles loaded inside containers for transport
• Proforma Invoice (PI): Preliminary invoice issued before payment
• Bill of Lading (B/L): Official shipping document issued by the carrier
• Customs Clearance: Process of releasing goods at destination port
• Inspection: Quality check performed before shipment