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Help: how the premium calculation

Answers:1   |   LastAnswerAt:2011.05  

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Tony Blake 
Asked at 2011.05.10 19:43:36
Help: how premiums count never done CIF, now a customer transaction, do CIF, and I were shown on the invoice: FOB, freight and insurance premiums. FOB value is $ 30,400, shipping is $ 400, the premium rate is eight ten thousandths, then the premium is how much? Please friends, help count, I forget the premium is $ 3 a few times, I feel a bit weird, rookie thanked
answer joy Green  Answered at 2011.05.10 19:43:36

CIF = CFR/1-1.1 * 0.0008 30400 +400/1-0 .00088 = 30800/0.99902 = 30830 usdCif Insurance = Cif * Insurance premium rate plus margin * = 30830 * 1.1 * 0.0008 = 27.13USD correction.
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