| Term: |
Explanation: |
Please Note: These are only a few
of the most commonly used INCOTerms.
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| EXW - EX WORKS |
| (Named Place) |
|
SELLER'S
primary duties:
- Deliver the goods at his premises
BUYER'S primary duties:
- Take delivery of the goods at
seller's premises
- Make all arrangements at his own
cost and risk to bring the goods to the destination
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|
| FCA - FREE CARRIER |
| (Named Place) |
|
SELLER'S
primary duties:
- Deliver the goods at the named point
into the custody of the carrier named by the buyer
- Provide export clearance (export
license, pay export taxes and fees, if required)
- Provide evidence of delivery of the
goods to the carrier
BUYER'S primary duties:
- Nominate carrier
- Contract for the carriage and pay
the freight
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FAS-FREE
ALONGSIDE SHIP
(Named Port of Shipment) |
SELLER'S primary duties:
- Deliver the goods along side the
vessel at the loading berth named by the buyer at the named port of shipment.
- Provide export clearance (export
license, pay export taxes and fees, if required)
BUYER'S primary duties:
- Nominate carrier
- Contract for the carriage and pay
the freight
|
|
FOB-FREE
ON BOARD
(Named Port of Shipment) |
SELLER'S
primary duties:
- Deliver the goods on board
- Provide export clearance (export
license, pay export taxes and fees, if required)
- Provide a clean on board receipt
- Pay loading costs according to the
custom of the port to the extent that they are not included in the freight
BUYER'S primary duties:
- Nominate carrier
- Contract for the carriage and pay
the freight
- Pay loading costs to the extent that
they are included in the freight
- Pay unloading costs
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|
CFR-COST
AND FREIGHT
(Named Port of Destination) |
SELLER'S primary duties:
- Contract for the carriage and pay
the freight to the named port of destination
- Deliver the goods on board
- Provide export clearance (export
license, pay export taxes and fees, if required)
- Furnish the buyer with the invoice,
the usual transport documents
- Pay loading cost and handling
- Pay unloading costs to the extent
that they are included in the freight
BUYER'S primary duties:
- Accept delivery of the goods upon
shipment, when the invoice, the cargo insurance policy or other evidence of insurance
document are tendered to him, and receive the goods from the carrier at the named port of
destination
- Pay unloading costs to the extent
that they are not included in the freight
|
|
CIF-COST,
INSURANCE, FREIGHT
(Named Port of Destination) |
SELLER'S primary duties:
- Contract for the carriage and pay
the freight to the named port of destination
- Deliver the goods on board
- Provide export clearance (export
license, pay export taxes and fees, if required)
- Contract for the insurance of the
goods during the carriage and pay the insurance premium
- Furnish the buyer with the invoice,
the usual transport documents and the cargo insurance policy or other evidence of
insurance coverage
- Pay loading cost and handling
- Pay unloading costs to the extent
that they are included in the freight
BUYER'S primary duties:
- Accept delivery of the goods upon
shipment, when the invoice, the cargo insurance policy or other evidence of insurance
document are tendered to him, and receive the goods from the carrier at the named port of
destination
- Pay unloading costs to the extent
that they are not included in the freight
|
|
DDP-DELIVERED
DUTY PAID
(Named Place of Destination) |
SELLER'S primary duties:
- Deliver the goods at the named place
of destination
- Provide import clearance (import
license, pay import duties, taxes and fees, if required)
- Provide documents to enable the
buyer to take delivery at the named place of destination
BUYER'S primary duties:
- Take delivery of the goods at the
named place of destination
|
|
DDU-DELIVERED
DUTY UNPAID
(Named Place of Destination) |
SELLER'S primary duties:
- Deliver the goods at the named place
of destination
- Provide documents to enable the
buyer to take delivery at the named place (e.g. Delivery Order, Warehouse Warrant or
Document of Transport)
BUYER'S primary duties:
- Take delivery of the goods at the
named place of destination
- Provide import clearance (import
license, pay import duties, taxes and fees, if required)
|
|
DAF-DELIVERY
AT FRONTIER
(Named Place) |
SELLER'S
primary duties:
- Deliver the goods cleared for export
at the named frontier (or the named place at the frontier)
- Provide documents to enable the
buyer to take delivery at the frontier (e.g. document of transport or warehouse warrant)
and assist the buyer to obtain any through transport document
BUYER'S primary duties:
- Take the delivery of the goods at
the named frontier (or the named place at the frontier)
- Pay for the oncarriage
- Provide import clearance (import
license, pay import duties, taxes and fees, if required)
|
|
CIP-CARRIAGE
& INSURANCE PAID TO
(Named Place of Destination) |
SELLER'S primary duties:
- Contract for the carriage and pay
the freight to the named place of destination
- Deliver the goods into the custody
of the first carrier
- Provide export clearance (export
license, pay export taxes and fees, if required)
- Contract for the insurance of the
goods during the carriage and pay the insurance premium
- Furnish the buyer with the invoice,
the usual transport documents and the cargo insurance policy or other evidence of
insurance coverage
BUYER'S primary duties:
- Accept delivery of the goods when
they are delivered to the first carrier and when the invoice, the cargo insurance policy
or other evidence of insurance coverage, and, if customary, the usual transport document
are tendered to him, and receive goods from the carrier at the named place of destination
|
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CPT-CARRIAGE
PAID TO
(Named Place of Destination) |
SELLER'S primary duties:
- Contract for the carriage and pay
the freight to the named place of destination
- Deliver the goods into the custody
of the first carrier
- Provide export clearance (export
license, pay export taxes and fees, if required)
- Furnish the buyer with the invoice,
the usual transport documents
BUYER'S primary duties:
- Accept delivery of the goods when
they are delivered to the first carrier and when the invoice, the cargo insurance policy
or other evidence of insurance coverage, and, if customary, the usual transport document
are tendered to him, and receive goods from the carrier at the named place of destination
|
|
DES
DELIVERED EX SHIP
(Named Port of Destination) |
SELLER'S primary duties:
- Deliver the goods on board the ship
at the port of destination
- Provide documents to enable the
buyer to take delivery from the ship (e.g. Bill of Lading or Delivery Order)
BUYER'S primary duties:
- Take delivery of the goods from the
ship at the port of destination
- Pay unloading costs
- Provide import clearance (import
license, pay import duties, taxes
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