INCOTERMS FOR ANY MODE OF TRANSPORTATION:
EXW – EX WORKS
Title and risk pass to buyer including payment of all costs of transportation and insurance from the seller’s door.
FCA – FREE CARRIER
Title and risk pass to buyer including transportation costs and insurance when the seller delivers goods cleared for export to the company. The seller must load the goods on the buyer’s collecting vehicle; is the obligation of the buyer receiving the vehicle seller, reaching downloaded.
CPT – CARRIAGE PAID TO
The risk of loss or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered to the carrier, is transferred from the seller to the buyer when the goods have been delivered to the custody of the carrier.
CIP – CARRIAGE & INSURANCE PAID TO
The seller has the same obligations as under CPT but has the responsibility to obtain insurance against the buyer’s risk of loss or damage to the goods during transport. The seller must clear the goods for export, but is only required to obtain insurance minimum coverage.
DAT – DELIVERED AT TERMINAL
The seller delivers when the goods, once unloaded from the means of transport is available to the buyer at the named terminal at the port or place of destination. Both parties must agree to the terminal and if a point is possible within the terminal, at which risks are transferred from the seller to the buyer of the goods. If it is intended that the seller bears all costs and responsibilities of the terminal to another point, DAP or DDP may apply.
DAP – Delivered At Place
The seller delivers the goods when available to the buyer on the arriving means of transport used and ready to be downloaded to the place of destination. It is recommended to Parties, specify as clearly as possible the point at place of destination, due to the transfer of risk at this point from seller to buyer. If the seller is responsible for clearing the goods, the payment of duties, etc. should consider using the term DDP.
DDP – DELIVERED DUTY PAID
The seller is responsible for delivering the goods to the named place in the country of importation, including all costs and risks of bringing the goods to import the destination. This includes fees, taxes and customs formalities.
INCOTERMS ONLY FOR MARITIME TRANSPORT:
FAS – FREE ALONGSIDE SHIP
The seller has fulfilled his obligation when goods have been placed alongside the vessel at the port of shipment. The buyer is responsible for all costs and risks of loss or damage to the goods from that moment. The buyer is also required to clear the goods for export.
FOB – FREE ON BOARD
Once the goods have passed the ship’s rail at the port of export, the buyer is responsible for all costs and risks of loss or damage to the goods from that point. The seller must clear the goods for export.
CFR – COST AND FREIGHT
The seller must pay the costs and freight necessary to bring the goods to the named port of destination. The risk of loss or damage is transferred from seller to buyer when the goods pass the ship’s rail at the port of shipment. The seller must clear the goods for export.
CIF – COST, INSURANCE AND FREIGHT
The seller has the same obligations as under CFR however he is also required to provide insurance against the buyer’s risk of loss or damage to the goods during transport. The seller must clear the goods for export.