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Incoterms - 2010

Incoterms are international trade terms formulated by the International Chamber of Commerce (ICC)

Incoterms 2010 has reduced the number of Terms from 13 to 11 – (DAT replaces DEQ,) and (DAP replaces DAF, DES, DDU,)

 TERMS

EXW

FCA

CPT

CIP

DAT

DAP

DDP

FAS

FOB

CFR

CIF

 

RULES FOR ANY MODE OR MODES OF TRANSPORT

RULES FOR SEA AND INLAND WATERWAYS TRANSPORT

 Commercial Documents - Invoice

S

S

S

S

S

S

S

S

S

S

S

 Notice to Buyer

S

S

S

S

S

S

S

S

S

S

S

 Checking, Packing and Marking

S

S

S

S

S

S

S

S

S

S

S

 Loading onto collecting Vehicle

B

S

S

S

S

S

S

S

S

S

S

Inland Cartage (Seller’s Country)

B

S

S

S

S

S

S

S

S

S

S

Export Clearance Formalities

B

S

S

S

S

S

S

S

S

S

S

Loading Charges (wharf/airport)

B

S

S

S

S

S

S

* S / B

S

S

S

 Contract of Carriage (Freight)

B

B

S

S

S

S

S

B

B

S

S

 Contract of Insurance

B

B

B

S

S

S

S

B

B

B

S

 Unloading Charges (wharf/airport)

B

B

B

B

S

* S / B

S

B

B

B

B

 RISK Transfer

named works

named place

named place 

named destination place 

named destination place 

named destination place 

named destination place 

Alongside ship departure

loaded on board

named destination port

named destination port

 Import Clearance

B

B

B

B

B

B

S

B

B

B

B

 Import Duties and Taxes

B

B

B

B

B

B

S

B

B

B

B

 Inland Cartage (Buyer’s Country)

B

B

B

B

* S / B

* S / B

S

B

B

B

B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* S / B = Depends on the point within the agreed place of destination

 

 

 

 

 

 

B = BUYER

 

S = SELLER

 

 

 

 

 

 

EXW

Ex Works ( ... named place )

DAP

 Delivered at Place ( … named place of destination)

FCA

Free Carrier ( ... named place of delivery )

DDP

 Delivered Duty Paid ( ... named place of destination )

CPT

Carriage Paid To ( ... named place of destination )

FAS

 Free Alongside Ship ( ... named port of shipment )

CIP

Carriage and Insurance Paid To ( ... named place of destination)

FOB

 Free On Board ( ... named port of shipment

DAT

Delivered At Terminal ( … named terminal at port or place of destination)

CFR

 Cost and Freight ( ... named port of destination )

 

 

CIF

 Cost, Insurance and Freight ( ... named port of destination )

 

DAT

Delivered At Terminalthe seller is responsible to deliver the goods to the agreed terminal at the named port or place of destination. "Terminal" is defined as any place covered or not like a quay, warehouse, container yard or road, rail or air cargo terminal (agreed terminal), the goods are considered delivered once unloaded from the arriving means of transport. The seller has no obligation to clear the goods for import, pay any import duty or carry out any import customs formalities. Where applicable, the seller is required to clear the goods for export. This term is limited to delivery at a terminal, should either party require the goods at a place beyond a terminal the terms DAP or DDP should be considered.

 

DAP

Delivered At Placethe seller is responsible to deliver the goods to the named destination place (agreed place), at the disposal of the buyer on the arriving means of transport ready for unloading. However, the seller has no obligation to clear the goods for import, pay any import duty or carry out any import customs formalities. Risk in transit transfers to the buyer, when the goods reach the named destination place (agreed place), ready for unloading from the arriving vehicle. The buyer is responsible for the unloading costs. Where applicable, the seller is required to clear the goods for export.

 

This document should be treated as a general guide only. For a full interpretation and further information regarding Incoterms please refer to the International Chamber of Commerce (ICC) website at www.iccbooks.com