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INCOTERMS
Incoterms 2000
INCOTERMS INFORMATION:
Incoterms are standard trade
definitions most commonly used in international sales contracts. Devised
and published by the International Chamber of Commerce, they are at the
heart of world trade.
Among the best known
Incoterms are EXW (Ex works), FOB (Free on Board), CIF (Cost, Insurance
and Freight), DDU (Delivered Duty Unpaid), and CPT (Carriage Paid To)
The internationally accepted terms of trade -
Delivery Terms
INCOTERMS
INCOTERMS - information:
Place Where the seller delivers the
goods to the buyer
Costs
What the seller pays up to that point of
delivery, unless otherwise agreed with the buyer
Risk When the seller passes the transit
risks to the buyer
(free means free from additional expense to
the buyer up to the point of delivery)
EXW EX Works (named place)
Place At the works or warehouse
Costs The seller packs for export and prepares
for despatch
Risk Passes when the goods are available for
the buyer
FCA FREE CARRIER (named place)
Place At the place, and to the carrier, named
by the buyer
Costs The seller pays up to the point of
delivery of the goods and for export facilities
Risk Passes when the seller delivers the goods
at the named place
FAS FREE ALONGSIDE SHIP (named shipment
port)
Place Along side the ship, and at the shipment
port, named by the buyer, or in lighters
Costs The seller pays for delivery of the
goods alongside the ship, or in lighters
Risk Passes when the seller delivers the goods
alongside the ship
(FAS can only be used for sea or inland
waterway transport)
FOB FREE ON BOARD (named shipment port)
Place On board the ship at the named port
Costs The Seller pays for delivery, export
formalities and loading, of goods over the ship's rail
Risk Passes when the goods have passed the
ship rail at the shipment port
(FOB can only be used for sea or inland
waterway transport)
CFR COST AND FREIGHT (named destination
port)
Place On board the ship at the port of
shipment
Costs The Seller pays for all costs and
freight to named destination port
Risk Passes when the goods have passed the
ship's rail at the port of shipment
(CFR can only be used for sea or inland
waterway transport)
CIF COST, INSURANCE AND FREIGHT (named
destination port)
Place On board the ship at the port of
shipment
Costs The Seller pays for all costs and
freight, and marine insurance, to the named destination port
Risk Passes when the goods have passes the
ship's rail at the port of shipment
(CIF can only be used for sea or inland
waterway transport)
CPT CARRIAGE PAYED TO (named destination
place)
Place Where the goods are handed over to the
first Carrier or Forwarder
Costs The Seller pays for all costs and
freight to the named destination place
Risk Passes when the goods have been handed
over to the first Carrier or Forwarder
CIP CARRIAGE AND INSURANCE PAID (named
destination place)
Place Where the goods are handed over to the
Carrier or Forwarder
Costs The seller pays for all costs and
freight, and marine insurance, to the named destination place
Risk Passes when the goods have been over to
the first Carrier or Forwarder
DAF DELIVERED AT FRONTIER (named place)
Place At the named frontier place, cleared for
export but not for import
Costs The seller pays for all costs and
freight to the named Frontier place
Risk Passes when the goods are available for
the buyer
DES DELIVERED EX SHIP (named destination
port)
Place On board ship at the named destination
port
Costs The seller pays all costs and freight to
the named destination port, but not unloading
Risk Passes when the goods are delivered to
the named destination port, but still on board ship
(DES can only be used for sea or inland
waterway transport)
DEQ DELIVERED EX QUAY (duty paid at named
destination port)
Place On the quay at the named destination
port
Costs The seller pays all costs and freight to
named destination port, and unloading and import clearance and states whether
duty is paid or unpaid
Risk Passes when the goods are unloaded and
cleared for import at the destination port
DDU DELIVERED DUTY UNPAID (named
destination port)
Place At the named destination place (in the
country of import)
Costs The seller pays all costs to the named
destination place, but not duties, taxes or import charges
Risk Passes when the goods are delivered to
the named destination place
DDP DELIVERED DUTY PAID (named destination
place)
Place At the named destination place (in the
country of import)
Costs The seller pays all costs to the named
destination place, including duties, taxes and import charges
Risk Passes when the goods are delivered to
the named destination place
(if the Buyer is going to pay the local VAT,
the TERM is "DDP, VAT unpaid")
ICC -
More information about
INCOTERMS 2000.
CFR - COST AND FREIGHT
CIF - COST INSURANCE AND FREIGHT
CIP - CARRIAGE AND INSURANCE PAID
CPT - CARRIAGE PAID
DAF - DELIVERED AT FRONTIER
DDP - DELIVERED DUTY PAID
DDU - DELIVERED DUTY UNPAID
DEQ - DELIVERED EX QUAY
DES - DELIVERED EX SHIP
EXW - EX WORKS
FAS - FREE ALONGSIDE SHIP
FCA - FREE CARRIER
FOB - FREE
ON BOARD
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