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International Freight Forwarders, Logistics & Supply Chain Management, Road Transportation, Marine Insurance, Warehousing

 
Inco Terms 2012

International Commercial Terms

The INCOTERMS (International Commercial Terms) is a universally recognized set of definitions of international trade terms, such as FOB, CFR and CIF, developed by the International Chamber of Commerce (ICC) in Paris, France. It defines the trade contract responsibilities and liabilities between buyer and seller. It is invaluable and a cost-saving tool. The exporter and the importer need not undergo a lengthy negotiation about the conditions of each transaction. Once they have agreed on a commercial term like FOB, they can sell and buy at FOB without discussing who will be responsible for the freight, cargo insurance, and other costs and risks.

The INCOTERMS was first published in 1936---INCOTERMS 1936---and it is revised periodically to keep up with changes in the international trade needs. The complete definition of each term is available from the current publication---INCOTERMS 2000. The publication is available at your local Chamber of Commerce affiliated with the International Chamber of Commerce (ICC).

Many importers and exporters worldwide are accustomed to and may still use the INCOTERMS 1980, the predecessor of INCOTERMS 1990 and INCOTERMS 2000.

 

EXW
FCA FAS FOB CFR CIF
CPT
CIP DAF DES DEQ DDU DDP

SERVICES

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