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Definition
Ex Works. (Named place of delivery)
Seller names the place of delivery and buyer is responsible for the rest. |
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Definition
Free Carrier. (Named place of delivery)
Seller clears the goods for export and delivers them to the carrier named by the buyer. Could be the sellers place of business. Seller is responsible for loading but not unloading. |
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Definition
Free Alongside Ship. (Named port of shipment)
Seller clears the goods for export and places them alongside the ship at the named port of shipment. |
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Free On Board. (Named port of shipment)
Seller clears the goods for export and delivers them on board the named vessel at the named port of shipment. |
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Definition
Cost and Freight. (Named port of destination)
Seller clears the goods for export and delivers them on board the named vessel at the named port of shipment. Responsibility and risk are passed to buyer. However, seller contracts and pays for shipment to named port of destination. |
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Definition
Cost, Insurance, and Freight. (Named port of destination)
Seller clears the goods for export and delivers them on board the named vessel at the named port of shipment. Risk is passed on to buyer. Seller will contract and pay for shipment as well as minimum cover insurance to named port of destination. |
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Term
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Definition
Carriage Paid To. (Named Place of Destination)
Seller clears the goods for export and delivers them on board the named vessel at the named place of shipment. This is where risk is passed to the buyer. The seller is responsible for contracting and paying for shipment and insurance to named place of destination. |
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Definition
Carriage and Insurance Paid To. (Named place of destination)
Seller clears the goods for export and delivers them to the agreed port of shipment. This is where risk is passed to the buyer. Then the seller is responsible for contracting and paying for shipment to the named place of destination as well as minimum cover insurance. |
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Term
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Definition
Delivered at Terminal. (Named terminal at port or place of destination)
Seller is responsible for clearing the goods for export and delivering them to a named terminal. The seller unloads the goods and makes them available to the buyer. Seller assumes all risks, insurance, and costs. |
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Term
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Definition
Delivered at Place. (Named place of destination)
Seller is responsible for clearing goods for export and delivering them to the named place of destination. Seller covers risk, costs, and insurance. Seller does not unload goods. |
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Definition
Delivered Duty Paid. (Named place of destination)
Seller clears goods for export and is responsible for their delivery to the named place of destination. Seller covers risk, costs, and insurance. Seller also clears goods for import and covers all fees and taxes. Goods are available to buyer, not unloaded. |
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| International Commercial Terms |
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| When were INCOTERMS rules written? |
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