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Incoterms

 

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INCOTERMS 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.
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    Copyright © 2003 Calfiornia Management
    Last modified: 08/13/10

    This industry comprises establishments primarily engaged in the merchant wholesale distribution of durable goods (except motor vehicle and motor vehicle parts and supplies; furniture and home furnishings; lumber and other construction materials; professional and commercial equipment and supplies; metals and minerals (except petroleum); electrical goods; hardware, and plumbing and heating equipment and supplies; machinery, equipment and supplies; sporting and recreational goods and supplies; toy and hobby goods and supplies; recyclable materials; and jewelry, watches, precious stones and precious metals). Merchant wholesale distribution of automobiles and other motor vehicles, motor vehicle supplies, tires, and new and used parts--are classified in Industry Group 4231, Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers; Merchant wholesale distribution of furniture and home furnishings--are classified in Industry Group 4232, Furniture and Home Furnishing Merchant Wholesalers; Merchant wholesale distribution of lumber, plywood, millwork, wood panels, brick, stone, roofing, siding, and other nonelectrical construction materials--are classified in Industry Group 4233, Lumber and Other Construction Materials Merchant Wholesalers; Merchant wholesale distribution of photographic; office; computer and computer peripheral; medical, dental, hospital, ophthalmic; and other commercial and professional equipment and supplies--are classified in Industry Group 4234, Professional and Commercial Equipment and Supplies Merchant Wholesalers; Merchant wholesale distribution of coal and other minerals and ores and semifinished metal products--are classified in Industry Group 4235, Metal and Mineral (except Petroleum) Merchant Wholesalers; Merchant wholesale distribution of electrical goods--are classified in Industry Group 4236, Electrical and Electronic Goods Merchant Wholesalers; Merchant wholesale distribution of hardware, and plumbing, heating, air conditioning, and refrigeration equipment and supplies--are classified in Industry Group 4237, Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers; Merchant wholesale distribution of construction, mining, farm, garden, industrial, service establishment, and transportation machinery, equipment and supplies--are classified in Industry Group 4238, Machinery, Equipment, and Supplies Merchant Wholesalers; Merchant wholesale distribution of sporting goods and accessories; billiard and pool supplies; sporting firearms and ammunition; and/or marine pleasure craft, equipment, and supplies--are classified in Industry 423910, Sporting and Recreational Goods and Supplies Merchant Wholesalers; Merchant wholesale distribution of toys, fireworks, playing cards, hobby goods and supplies and/or related goods--are classified in Industry 423920, Toy and Hobby Goods and Supplies Merchant Wholesalers; Merchant wholesale distribution of automotive, industrial, and other recyclable materials--are classified in Industry 423930, Recyclable Material Merchant Wholesalers; and Merchant wholesale distribution of jewelry, precious and semiprecious stones, precious metals and metal flatware, costume jewelry, watches, clocks, silverware, and/or jewelers' findings--are classified in Industry 423940, Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers.

    We Buy Foods, Frozen Juice, Juice Concentrates, Frozen Vegetables, Beverages, Soda, Drinks, Overstocks, Electronics, As seen on TV, Clothing, Appliances, Automotive, Arts & Crafts, Books, Toys, Fabrics, Notions, House wares, Hardware, Soft Goods, Urban Wear, Telephones, Cell Phones, Jeans, Recycled Clothing, Surplus, Dollar Store Merchandise, 99c Store Merchandise, Kosher Products, Cheese, Frozen Foods, Cakes, Cookies, Seafood, Baby Food, Baby Clothing, General Merchandise, Test Market Products, Late Shipments, Baby Formula, Socks, Underwear, School Supplies, Furniture, We Buy Beverages, Soda, Drinks, Overstocks, Electronics, As seen on TV, Clothing, Appliances, Automotive, Arts & Crafts, Books , Toys, Fabrics, Notions, House wares, Hardware, Soft Goods, Urban Wear, Telephones, Cell Phones, Jeans, Recycled Clothing, Surplus, Dollar Store Merchandise, 99c Store Merchandise, Kosher Products, Cheese, Frozen Foods, Cakes, Cookies, Seafood, Baby Food, Baby Clothing, General Merchandise, Test Market Products, Late Shipments, Baby Formula, Socks, Underwear, School Supplies, Furniture, We Buy Beverages, Soda, Drinks, Overstocks, Electronics, As seen on TV, Clothing, Appliances, Automotive, Arts & Crafts, Books , Toys, Fabrics, Notions, House