| EXW |
Ex Works
(... named place) |
The seller delivers when he places the goods
at the disposal of the buyer at the seller's premises or another named place
(i.e. works, factory, warehouse, etc.) not cleared for export and not loaded on
any collecting vehicle. This term thus represents the minimum obligation
for the seller, and the buyer has to bear all costs and risks involved in taking
the goods from the seller's premises |
| FCA |
Free Carrier
(... named place) |
The seller delivers the goods, cleared for
export, to the carrier nominated by the buyer at the named place. It should be
noted that the chosen place of delivery has an impact on the obligations of
loading and unloading the goods at that place. If delivery occurs at the
seller's premises, the seller is responsible for loading. If delivery occurs at
any other place, the seller is not responsible for unloading. |
| FAS |
Free Alongside Ship
(... named port of shipment) |
Seller delivers when the goods are placed
alongside the vessel at the named port of shipment. This means that the buyer
has to bear all costs and risks of loss of or damage to the goods from that
moment. The FAS term requires the seller to clear the goods for export. |
| FOB |
Free On Board
(... named port of shipment) |
Seller delivers when the goods pass the ship's
rail at the named port of shipment. This means that the buyer has to bear all
costs and risks of loss of or damage to the goods from that point. The FOB term
requires the seller to clear the goods for export. This term can be used only
for sea or inland waterway transport |
| CFR |
Cost and Freight
(... named port of destination) |
Seller delivers when the goods pass the ship's
rail in the port of shipment. The seller must pay the costs and freight
necessary to bring the goods to the named port of destination BUT the risk of
loss of or damage to the goods, as well as any additional costs due to events
occurring after the time of delivery, are transferred from the seller to the
buyer. The CFR term requires the seller to clear the goods for export. This term
can be used only for sea and inland waterway transport. If the parties do not
intend to deliver the goods across the ship's rail, the CPT term should be used. |
| CIF |
Cost,Insurance and Freight
(... named port of destination) |
Seller delivers when the goods pass the ship's
rail in the port of shipment. The seller must pay the costs and freight
necessary to bring the goods to the named port of destination .The CIF term
requires the seller to clear the goods for export. This term can be used only
for sea and inland waterway transport. If parties do not intend to deliver goods
across the ship's rail, the CIP term should be used. |
| CPT |
Carriage Paid To
(... named place of destination) |
Seller delivers the goods to the carrier
nominated by him but the seller must in addition pay the cost of carriage
necessary to bring the goods to the named destination. This means that the buyer
bears all risks and any other costs occurring after the goods have been so
delivered.If subsequent carriers are used for the carriage to the agreed
destination, the risk passes when the goods have been delivered to the first
carrier. The CPT term requires the seller to clear the goods for export. This
term may be used irrespective of the mode of transport including multimodal
transport. |
| CIP |
Carriage and Insurance Paid To
(... named place of destination) |
Seller delivers the goods to the carrier
nominated by him but the seller must in addition pay the cost of carriage
necessary to bring the goods to the named destination. This means that the buyer
bears all risks and any additional costs occurring after the goods have been so
delivered. However, in CIP the seller also has to procure insurance against the
buyer's risk of loss of or damage to the goods during the carriage.
Consequently, the seller contracts for insurance and pays the insurance
premium.If subsequent carriers are used for the carriage to the agreed
destination, the risk passes when the goods have been delivered to the first
carrier. The CIP term requires the seller to clear the goods for export. This
term may be used irrespective of the mode of transport including multimodal
transport. |
| DAF |
Delivered At Frontier
(... named place) |
means that the seller delivers when the goods
are placed at the disposal of the Buyer on the arriving means of transport not
unloaded, cleared for export, but not cleared for import at the named point and
place at the frontier, but before the customs border of the adjoining country.
The term «frontier» may be used for any frontier including that of the country
of export. Therefore, it is of vital importance that the frontier in question be
defined precisely by always naming the point and place in the term. This term
may be used irrespective of the mode of transport when goods are to be delivered
at a land frontier. When delivery is to take place in the port of destination,
on board a vessel or on the quay (wharf), the DES or DEQ terms should be used. |
| DES |
Delivered Ex Ship
(... named port of destination) |
Seller delivers when the goods are placed at
the disposal of the buyer on board the ship not cleared for import at the named
port of destination.The seller has to bear all the costs and risks involved in
bringing the goods to the named port of destination before discharging. If the
parties wish the seller to bear the costs and risks of discharging the goods,
then the DEQ term should be used. This term can be used only when the
goods are to be delivered by sea or inland waterway or multimodal transport on a
vessel in the port of destination. |
| DEQ |
Delivered Ex Quay
(... named port of destination) |
Seller delivers when the goods are placed at
the disposal of the buyer not cleared for import on the quay (wharf) at the
named port of destination. The seller has to bear costs and risks involved in
bringing the goods to the named port of destination and discharging the goods on
the quay (wharf).The DEQ term requires the buyer to clear the goods for import
and to pay for all formalities, duties, taxes and other charges upon import.
This term can be used only when the goods are to be delivered by sea or inland
waterway or multimodal transport on discharging from a vessel onto the quay
(wharf) in the port of destination. However if the parties wish to include in
the seller's obligations the risks and costs of the handling of the goods from
the quay to another place (warehouse, terminal, etc.) in or outside the
port, the DDU or DDP terms should be used. |
| DDU |
Delivered Duty Unpaid
(... named place of destination) |
Seller delivers the goods to the buyer, not
cleared for import, and not unloaded from any arriving means of transport at the
named place of destination. The seller has to bear the costs and risks involved
in bringing the goods thereto, other than, where applicable, any «duty» (which
term includes the responsibility for and the risks of the carrying out of
customs formalities, and the payment of formalities, customs duties, taxes and
other charges) for import in the country of destination. This term may be used
irrespective of the mode of transport but when delivery is to take place in the
port of destination on board the vessel or on the quay (wharf), the DES or DEQ
terms should be used. |
| DDP |
Delivered Duty Paid
(... named place of destination) |
Seller delivers goods to the buyer, cleared
for import, and not unloaded from any arriving means of transport at the named
place of destination. The seller has to bear all the costs and risks involved in
bringing the goods thereto including, where applicable, any «duty» (which term
includes the responsibility for and the risk of the carrying out of customs
formalities and the payment of formalities, customs duties, taxes and other
charges) for import in the country of destination. If the parties wish the buyer
to bear all risks and costs of the import, the DDU term should be used.
This term may be used irrespective of the mode of transport but when delivery is
to take place in the port of destination on board the vessel or on the quay
(wharf), the DES or DEQ terms should be used. |
