The International Chamber of Commerce has developed the "Incoterms". These definitions give to the bussines comunity the essential explicitness to International Commerce communication and contracts, and limit the responsibility for the operations. Here, we have elaborated a simple guide as basic information
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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