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Incoterms

  • EXW – Ex Works — Title and risk pass to buyer, including payment of all transportation and insurance cost from the seller’s door.
  • FOB – Free On Board — Title and risk pass to buyer, including payment of all transportation and insurance cost once delivered on board the ship by the seller.
  • 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 the destination port. The buyer is responsible for import customs clearance and other costs and risks.
  • DAP – Delivered At Placet — The seller retains all risks until delivery is completed at the agreed destination point. The buyer is responsible for customs clearance and all duty and taxes payable. The buyer is responsible for unloading the goods from the arriving vehicle.
  • DAT – Delivered At Terminal — Seller retains all risks until delivery is completed at the agreed destination terminal. The buyer is responsible for customs clearance and all duty and taxes payable. The seller is responsible to unload the goods from the arriving vehicle.
  • DDP – Delivered Duty Paid — Seller retains all risk until delivery is completed at the agreed destination point. Seller must clear for import and pay all duties and taxes. The buyer is responsible for unloading the goods from the arriving vehicle.

 

What are INTERCOMS 200?

INCOTERMS 2000 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.

Appearing below are a summary list and brief explanation of each Incoterm. We are more than happy to assist