|
IncoTerms 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 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.
|
