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 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 receive 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. |