Incoterms


EXW

Ex works
Clauses: Indicating agreed place, at the seller's premises (Factory, warehouse, etc).
Type of Transportation: All types

Obligations

Seller: Place the goods to the buyer at your facility. This clause represents the minimum obligation for the seller.

Buyer: Choose the mode and bear the cost and risk inherent in the transport of goods.
FCA

Free carrier
Clauses: Indicating agreed place: Seller's Plant / Mine; intermediate point or port. If the agreed place is the seller's plant / mine, the delivery takes place at the moment when the vehicle is finished loading. If the agreed place is an intermediate point or the port, the delivery occurs once it arrives the vehicle to the agreed place and is positioned so that the buyer unloads it. The 2020 version allows the BLs to be delivered by the shipping agency to the seller, after loading the merchandise, registering “on board”. This taking into account the business practices identified by the ICC, in relation to the BL's request to meet credit requirements by the seller.
Type of Transportation: All types

Obligations

Seller: Deliver the goods to the carrier nominated by the buyer at the named place. The rights and export formalities are in charge.

Buyer: Choose the mode and the carrier. Pay all costs and bear all risks of the goods from the time the carrier takes over the goods at the agreed place.
FAS

Free alongside ship
Clauses: Indicating agreed place, within the facilities of the maritime terminal next to the ship.
Type of Transportation: Only Maritime

Obligations

Seller: Place the goods alongside the vessel at the place designated by the purchaser at the port of shipment. At the request of the purchaser shall give every assistance in obtaining the necessary permits for export of goods.

Buyer: Choose the shipping company and provide the name of the vessel to the seller. Pay the freight and support all risks from the moment the seller has placed alongside the vessel. Obtaining licenses to export and import.
FOB

Free on board.
Clauses: Indicating port and maritime terminal agreed, on board the ship.
Type of Transportation: Only Maritime

Obligations

Seller: Placing the goods on board the ship chosen by the buyer at the port of shipment. Fill yourself all formalities for export.

Buyer: Designate and reserve the ship and run with transport costs and risks inherent in the goods from that is on board.
CFR

Cost and freight.
Clauses: Indicating destination port
Type of Transportation: Only Maritime.

Obligations

Seller: Hiring the vessel, with its own freight, cargo and export formalities until the destination.

Buyer: Support any additional costs and risk of loss or damage to the goods from the time it is on board.
CIF

Cost, insurance and freight.
Clauses: Indicating destination port.
Type of Transportation: Only Maritime.

Obligations

Seller: All obligations of the clause plus additional CFR subscribe on their own, an insurance policy for transport of goods by a minimum of 110% of its value.

Buyer: Although it is the seller who hires and pays the insurance, the goods travel at buyer's risk, who is the beneficiary of the policy, either by direct appointment, or by the transferability of the same.
CPT

Cariage paid to.
Clauses: Indicating the destination.
Type of Transportation: All types

Obligations

Seller: Hire and pay for transportation of goods to the place of destination. Completing the formalities necessary for export.

Buyer: Support all risks inherent in the goods from the time the seller to deliver the first carrier. Bear any additional costs (loading, unloading, etc).
CIP

Carriage and insurance paid to.
Clauses: Indicating place of destination agreed.
Type of Transportation: All types

Obligations

Seller: Similar to the clause CPT, with additional sign their own insurance policy for transport of goods by a minimum of 110% of its value.

Buyer: The same as those of CPT clause. Agrees that the seller and buyer agreement in advance about the extent of insurance.
DAP

Delivered at place.
Clauses: Indicating place of destination agreed, merchandise made available to the buyer ready to be unloaded from the vehicle.
Type of Transportation: All types

Obligations

Seller: Deliver the goods and place in disposal of the buyer in the transportation of arrival, ready to be discharged.

Buyer: Unloading the goods and meet the costs from the time that it is made available in the transportation of arrival.
DPU

Delivered at terminal.
Clauses: Indicating place of destination agreed, merchandise delivered and unloaded in an agreed place.
Type of Transportation: All types.

Obligations

Seller: Transport to the agreed place of the country of destination (a port, a warehouse, distribution center, bulk storage silos, refrigerators, etc.), unload the merchandise and deliver to the buyer, assuming the costs and risks until the moment of delivery.

Buyer: Import customs formalities, transfer of the merchandise to its facilities (in case the place agreed is not its facilities) and download.
DDP

Delivered duty paid.
Clauses: Indicating location agreed
Type of Transportation: All types

Obligations

Seller: Pay all expenses related to export and import including customs formalities and taxes in the country of destination and deliver the goods at the agreed place (usually the buyer's facilities)

Buyer: Support the risks inherent in the goods from the time of delivery occurs at the point lam agreed. This clause represents the minimum obligation for the buyer.

Place your mouse over any of the 11 Incoterms shown above and read its definition.

 

    *Incoterms 2010TM is an ICC trademark. For official use please consult www.iccwbo.org

Convenciones

 

 

INCOTERMS is an international regulation issued by the International Chamber of Commerce, to help understand the commercial terms used in international trade.

Incoterms regulate the distribution of documentation, delivery terms, cost and risk responsibilities.

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