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Incoterms

  • Definitions
  • EXW

    When importing on Ex Works terms the buyer is responsible for the whole shipment from door to door. All costs and liabilities are with the buyer. Ex Works (sometimes shown as EXW or ExWorks) is a widely used international shipping term or Incoterm.
  • FCA

    FCA-Free Carrier-(named place) "Free Carrier" means that the seller fulfils his obligation to deliver when he has handed over the goods, cleared for export, into the charge of the carrier named by the buyer at the named place or point.
  • FAS

    FAS - Free Alongside Ship (2000 and 2010) This term means that the seller delivers when the goods are placed alongside the vessel at the named port of shipment. The seller is required to clear the goods for export. The buyer has to bear all costs & risks of loss or damage to the goods from that moment.
  • FOB

    FOB DEFINITION | SHIPPING TERMS OF SALE. FOB, Free On Board, is a transportation term that indicates that the price for goods includes delivery at the Seller's expense to a specified point and no further.
  • CFR

    Cost and freight is a legal term in international trade. In a contract specifying that a sale is made CFR, the seller is required to arrange for the carriage of goods by sea to a port of destination and provide the buyer with the documents necessary to obtain the goods from the carrier.
  • CIF

    So what does FOB and CIF means ? CIF – COST INSURANCE AND FREIGHT (named port of destination): Seller must pay the costs and freight includes insurance to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the ship.
  • CIP

    Carriage and Insurance Paid To (CIP) is when a seller pays freight and insurance to deliver goods to a seller-appointed party at an agreed-upon location.
  • CPT

    CPT-Carriage Paid to. "Carriage paid to..." means that the seller pays the freight for the carriage of the goods to the named destination.
  • DAT

    DAT - Delivered at Terminal (...named terminal at port or place of destination) New Term - May be used for all transport modes. Seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of destination.
  • DAP

    DAP – Delivery at Place. All charges as well as delivery to the buyer facilities will be arranged by the seller. Customs clearance cost can be arranged by either the seller or the buyer depending on the agreement at the time of the freight booking. Import Duty and Taxes will be paid by the buyer at destination.
  • DDP

    "Delivered duty paid" means that the seller fulfils his obligation to deliver when the goods have been made available at the named place in the country of importation. The seller has to bear the risks and costs, including duties, taxes and other charges of delivering the goods thereto, cleared for importation.

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