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ICOTERMS 2000

 

When negotiating an international sales contract, both the seller and the buyer need to fully understand terms of sale. To avoid any confusion, a standard chart of terms and responsiblities was created.

INCOTERMS 2000 has been adopted by most countries to help define and clarify the exact responsibilities and risks of each party whilst the goods are in transit. There are currently 13 INCOTERMS.

The 13 INCOTERMS



International Carriage NOT Paid by Seller

Term Definition Applies To
EXW Ex-Works - named place where shipment is available to the buyer, not loaded. The seller will not contract for any transportation.
FCA** Free Carrier - unloaded at the seller's dock OR a named place where shipment is available to the international carrier or agent, not loaded. Any mode of transport
FAS Free Alongside Ship - named ocean port of shipment. Ocean shipments that are NOT containerized.
FOB Free On Board vessel - named ocean port of shipment. Ocean shipments only where it's important the goods pass the ship's rail.

** NOTE: There are actually two FCA terms: FCA Seller's Premises where the seller is responsible only for loading the goods and not responsible for inland freight; and FCA Named Place (International Carrier) where the seller is responsible for inland freight.

Responsibilites

  EXW FCA FAS FOB

SERVICES

Ex Works Free Carrier Free Alongside Ship Free Onboard Vessel
Warehouse Storage Seller Seller Seller Seller
Warehouse Labor Seller Seller Seller Seller
Export Packing Seller Seller Seller Seller
Loading Charges Buyer Seller Seller Seller
Inland Freight Buyer Buyer/
Seller*
Seller Seller
Terminal Charges Buyer Buyer Seller Seller
Forwarder's Fees Buyer Buyer Buyer Buyer
Loading On Vessel Buyer Buyer Buyer Seller
Ocean/Air Freight Buyer Buyer Buyer Buyer
Charges On  Arrival At Destination Buyer Buyer Buyer Buyer
Duty, Taxes & Customs Clearance Buyer Buyer Buyer Buyer
Delivery To Destination Buyer Buyer Buyer Buyer


International Carriage Paid by the Seller

Term Definition Applies To
CFR Cost and Freight - named ocean port of destination. Ocean shipments that are not containerized.
CIF Cost, Insurance and Freight - named ocean port of destination. Ocean shipments that are NOT containerized.
CPT Carriage Paid To - named place or port of destination. Air or ocean containerized and roll-on roll-off shipments.
CIP Carriage and Insurance Paid To - named place or port of destination. Air or ocean containerized and roll-on roll-off shipments.

Responsibilites

  CFR CIF CPT CIP

SERVICES

Cost & Freight Cost Insurance & Freight Carriage Paid To Carriage Insurance Paid To
Warehouse Storage Seller Seller Seller Seller
Warehouse Labor Seller Seller Seller Seller
Export Packing Seller Seller Seller Seller
Loading Charges Seller Seller Seller Seller
Inland Freight Seller Seller Seller Seller
Terminal Charges Seller Seller Seller Seller
Forwarder's Fees Seller Seller Seller Seller
Loading On Vessel Seller Seller Seller Seller
Ocean/Air Freight Seller Seller Seller Seller
Charges On  Arrival At Destination Buyer Buyer Seller Seller
Duty, Taxes & Customs Clearance Buyer Buyer Buyer Buyer
Delivery To Destination Buyer Buyer Buyer Buyer



Arrival At Stated Destination

Term Definition Applies To
DAF Delivered At Frontier - named place of destination, by land, not unloaded. Any mode of transportation but must be delivered by land.
DES Delivered Ex-Ship - named port of destination, not unloaded. Ocean shipments only.
DEQ Delivered Ex-Quay - named port of destination, unloaded, not cleared. Ocean shipments only.
DDU Carriage and Insurance Paid To - named place or port of destination. Air or ocean containerized and roll-on roll-off shipments.
DDP Delivered Duty Paid - named place of destination, not unloaded, cleared. Any mode of transportation.

Responsibilites

  DAF DES DEQ DDU DDP

SERVICES

Delivered At Frontier Delivered Ex Ship Delivered Ex Quay Duty Unpaid Delivered Duty Unpaid Delivered Duty Paid
Warehouse Storage Seller Seller Seller Seller Seller
Warehouse Labor Seller Seller Seller Seller Seller
Export Packing Seller Seller Seller Seller Seller
Loading Charges Seller Seller Seller Seller Seller
Inland Freight Seller Seller Seller Seller Seller
Terminal Charges Seller Seller Seller Seller Seller
Forwarder's Fees Seller Seller Seller Seller Seller
Loading On Vessel Seller Seller Seller Seller Seller
Ocean/Air Freight Seller Seller Seller Seller Seller
Charges On  Arrival At Destination Buyer Buyer Seller Seller Seller
Duty, Taxes & Customs Clearance Buyer Buyer Buyer Buyer Seller
Delivery To Destination Buyer Buyer Buyer Seller Seller

 

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