INCOTERMS

INCO 2010 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.

INCO 2010
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
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 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
DAT Delivered at Terminal
Seller has delivered the goods, once they are unloaded and are placed at the disposal of the buyer at a named terminal at the named port or place of destination
DAP Delivered at Place
Seller has delivered the goods only when they are placed at the disposal of the buyer and are ready for unloading at the named place of destination

INCOTERMS 2000 - Chart of Responsibility

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