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INCOTERMS
2000
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. |
