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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.
Incoterms 2000 is copyrighted by the International Chamber
of Commerce, Paris, France. It is available in the United States
from ICC Publishing, Inc., 156 Fifth Avenue, New York, NY 10010.
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