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 sale agreement or other method of transacting the sale.
INCOTERMS
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 - 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 receive 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 - Title 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 - 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 the 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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