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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. 
EXW - Ex Works -- Title and risk pass to buyer including payment of
all transportation and insurance cost from the seller's door. Used for
any mode of transportation.
FCA - Free Carrier -- Title and risk pass to buyer including transportation
and insurance cost when the seller delivers goods cleared for export to
the carrier.Seller is obligated to load the goods on the Buyer's collecting
vehicle; it is the Buyer's obligation to recieve the Seller's arriving
vehicle unloaded.
FAS - Free Alongside Ship --Title and risk pass to buyer including payment
of all transportation and insurance cost once delivered alongside ship
by the seller. Used for sea or inland waterway transportation. The export
clearance obligation rests with the seller.
FOB - Free On Board and risk pass to buyer including payment of all
transportation and insurance cost once delivered on board the ship by
the seller. Used for sea or inland waterway transportation.
CFR - Cost and Freight -- Title, risk and insurance cost pass to buyer
when delivered on board the ship by seller who pays the transportation
cost to the destination port. Used for sea or inland waterway transportation.
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 destination port. Used for sea or inland waterway transportation.
CPT - Carriage Paid To -- Title, risk and insurance cost pass to buyer
when delivered to carrier by seller who pays transportation cost to destination.
Used for any mode of transportation.
CIP - Carriage and Insurance Paid To --Title and risk pass to buyer
when delivered to carrier by seller who pays transportation and insurance
cost to destination. Used for any mode of transportation.
DAF - Delivered at Frontier -- Title, risk and responsibility for import
clearance pass to buyer when delivered to named border point by seller.
Used for any mode of transportation.
DES - Delivered Ex Ship -- Title, risk, responsibility for vessel discharge
and import clearance pass to buyer when seller delivers goods on board
the ship to destination port. Used for sea or inland waterway transportation.
DEQ - Delivered Ex Quay (Duty Paid) -- Title and risk pass to buyer
when delivered on board the ship at the destination point by the seller
who delivers goods on dock at destination point cleared for import. Used
for sea or inland waterway transportation. DDU - Delivered Duty Unpaid
-- Title, risk and responsibility of import clearance pass to buyer when
seller delivers goods to named destination point. Used for any mode of
transportation. Buyer is obligated for import clearance.
DDU - Delivered Duty Unpaid -- Seller fulfills his obligation when goods
have been made available at teh named place in the country of importation
DDP - Delivered Duty Paid -- Title and risk pass to buyer when seller
delivers goods to named destination point cleared for import. Used for
any mode of transportation.
Note:
EXW, CPT, CIP, DAF, DDU and DDP are commonly used for any mode of transportation.
FAS, FOB, CFR, CIF, DES, and DEQ are used for sea and inland waterway.
Incoterms 2000
is copyrighted by the International Chamber of Commerce, Paris, France.
It is available in the United States from ICC Publishing, Inc., 156 Fifth
Avenue, New York, NY 10010.
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