Incoterms
INCOTERMS 2000
are internationally accepted commercial terms defining
the respective roles of the buyer and seller in the
arrangement of transportation and other responsibilities
and clarify when the ownership of the merchandise takes
place. They are used in conjunction with a sales
agreement or other method of transacting the sale.
EXW - Ex Works
-- Title and risk pass to buyer including payment of all
transportation and insurance cost from the seller's
door. Used for any mode of transportation.
FCA - Free
Carrier -- Title and risk pass to buyer including
transportation and insurance cost when the seller
delivers goods cleared for export to the carrier.Seller
is obligated to load the goods on the Buyer's collecting
vehicle; it is the Buyer's obligation to recieve the
Seller's arriving vehicle unloaded.
FAS - Free
Alongside Ship --Title and risk pass to buyer including
payment of all transportation and insurance cost once
delivered alongside ship by the seller. Used for sea or
inland waterway transportation. The export clearance
obligation rests with the seller.
FOB - Free On
Board and risk pass to buyer including payment of all
transportation and insurance cost once delivered on
board the ship by the seller. Used for sea or inland
waterway transportation.
CFR - Cost and
Freight -- Title, risk and insurance cost pass to buyer
when delivered on board the ship by seller who pays the
transportation cost to the destination port. Used for
sea or inland waterway transportation.
CIF - Cost,
Insurance and Freight -- Title and risk pass to buyer
when delivered on board the ship by seller who pays
transportation and insurance cost to destination port.
Used for sea or inland waterway transportation.
CPT - Carriage
Paid To -- Title, risk and insurance cost pass to buyer
when delivered to carrier by seller who pays
transportation cost to destination. Used for any mode of
transportation.
CIP - Carriage
and Insurance Paid To --Title and risk pass to buyer
when delivered to carrier by seller who pays
transportation and insurance cost to destination. Used
for any mode of transportation.
DAF - Delivered
at Frontier -- Title, risk and responsibility for import
clearance pass to buyer when delivered to named border
point by seller. Used for any mode of transportation.
DES - Delivered
Ex Ship -- Title, risk, responsibility for vessel
discharge and import clearance pass to buyer when seller
delivers goods on board the ship to destination port.
Used for sea or inland waterway transportation.
DEQ - Delivered
Ex Quay (Duty Paid) -- Title and risk pass to buyer when
delivered on board the ship at the destination point by
the seller who delivers goods on dock at destination
point cleared for import. Used for sea or inland
waterway transportation. DDU - Delivered Duty Unpaid --
Title, risk and responsibility of import clearance pass
to buyer when seller delivers goods to named destination
point. Used for any mode of transportation. Buyer is
obligated for import clearance.
DDU - Delivered
Duty Unpaid -- Seller fulfills his obligation when goods
have been made available at teh named place in the
country of importation
DDP - Delivered
Duty Paid -- Title and risk pass to buyer when seller
delivers goods to named destination point cleared for
import. Used for any mode of transportation.
Note: EXW, CPT,
CIP, DAF, DDU and DDP are commonly used for any mode of
transportation. FAS, FOB, CFR, CIF, DES, and DEQ are
used for sea and inland waterway.
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