Technical terms relating to value in the course of import or export :

(1) Ex-Factory Price	It is the price of the goods as comes out of the factory. It includes cost of production and manufacturer‘s margin of profit.
(2) F.A.S ( Free Alongside)	It is the cost at which the export goods are delivered alongside the ship, ready for shipment. It includes exfactory +local freight + local taxes.
(3) F.O.B. (Free on Board)	Technically there is not much of a difference between FAS and FOB cost. FOB means the stage at which the goods are placed on board the conveyance carrying the vessel. It can be said to include FAS + loading charges + export duty cess.
(4) C.I.F. (Cost Insurance Freight)	It is the cost at which the goods are delivered at the Indian port. It covers cost of goods. Some times there is referred as CFC also.