Product
Trade & Customs
1 company, 1,000 trade files/year; HS code library, landed cost and document consistency included
- 10 full users
- 1 sites
- 4 modules
Free tool
CIF Customs Value
Calculate the CIF-based customs value by adding any freight and insurance missing for the invoice’s Incoterm. No sign-up needed; results update as you type.
See the system that does this automaticallyOpen the live demoCIF Customs Value: worked example
Example values: Incoterm on the invoice FCA / FOB, Invoice value 50,000 USD, Origin inland transport and loading 1,300 USD, Freight 3,200 USD, Insurance rate 0.3 %. With these values the results are:
| CFR equivalent | 53,200 USD |
|---|---|
| Insurance to add | 176 USD |
| CIF customs value | 53,376 USD |
How to use: CIF Customs Value
- Enter your own values: Incoterm on the invoice, Invoice value, Origin inland transport and loading, Freight, Insurance rate.
- Choose the currency; money inputs are converted at an approximate rate.
- Results are calculated as you type: CFR equivalent, Insurance to add, CIF customs value.
- Check every step of the calculation in the formulas below.
How is it calculated?
- CFR equivalent = [Invoice value] + [Origin charges added] × [Origin inland transport and loading] + [Freight added] × [Freight]
- Insurance to add = [Insurance added] × [CFR equivalent] × 1.1 × [Insurance rate] ÷ 100
- CIF customs value = [CFR equivalent] + [Insurance to add]
Duty rates vary by country, origin and trade agreements. Verify current rates in the official customs tariff or with your customs broker; the tool calculates with the rates you enter.
Other tools running on Incoterms Engine
Calculates from one table which costs belong to the seller and which to the buyer under every Incoterm from EXW to DDP.
FCRSOFT
FCRSOFT does this for you automatically
You don’t need to do the calculations and checks on this page by hand every day. FCRSOFT derives them all automatically from the records entered in the field.
- HS codes and tax rates are stored on product cards.
- Duties and VAT are calculated automatically in every import file.
- Customs declarations and charges are linked to the file.
Frequently asked questions
How is CIF Customs Value calculated?
Calculate the CIF-based customs value by adding any freight and insurance missing for the invoice’s Incoterm. The calculation uses Incoterms Engine: Calculates from one table which costs belong to the seller and which to the buyer under every Incoterm from EXW to DDP.
Worked example: CIF Customs Value
Example values: Incoterm on the invoice FCA / FOB, Invoice value 50,000 USD, Origin inland transport and loading 1,300 USD, Freight 3,200 USD, Insurance rate 0.3 %. CFR equivalent: 53,200 USD; Insurance to add: 176 USD; CIF customs value: 53,376 USD.
Is CIF Customs Value free?
Yes. The tool is free, needs no sign-up and runs in your browser; the data you enter is not stored.
Can FCRSOFT do this calculation automatically?
FCRSOFT sets up the customs value and cost split automatically according to the file’s Incoterm. You can try the Trade & Customs package in the live demo without installing anything.
Where do I find duty rates?
Duty rates vary by country, origin and trade agreements. Verify current rates in the official customs tariff or with your customs broker; the tool calculates with the rates you enter.
Which currency can I calculate in?
Choose one of 28 currencies in the currency selector; monetary inputs are converted at an approximate rate. To use your own rate, enter the amounts directly.
FCRSOFT solutions
All inclusive
Enterprise Site — all products
Farm · Hatchery · Feed ERP · Processing · WMS & Supply · Sales & CRM · Finance · Maintenance · Trace & Cold Chain · B2B Commerce · Fleet & Vessel · Voyage & Chartering · Trade & Customs · Freight & Container
- 30 full users
- 1 sites
- 69 modules
