Incoterms
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(Free carrier - Franco Transportista) The seller fulfils the obligation by delivering the goods, cleared for export, to the carrier at a named place. If no specific point is indicated by the buyer, the seller may choose, within the place or range stipulated, where the carrier will take over the goods. This term can be used with any mode of transport, including multimodal. |
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(Free alongside ship) The abbreviation is followed by the name of the port of shipment. The price of the goods is deemed placed alongside the vessel at the named port of shipment, ex quay or in flat boats, all costs and risks up to this point borne by the seller. The buyer must clear the goods through Customs. This term can only be used for maritime transport or inland navigation. |
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(Free on Board) The abbreviation is followed by the name of the port of shipment (for example, FOB Algeciras.) It means that goods are placed on board with all costs, rights, and risks borne by the seller until goods have passed over the ship’s rail; freight not included. It requires the seller to clear the goods for export. This term can only be used for maritime transport or inland navigation. |
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(Cost & Freight) The abbreviation is followed by the name of the port of destination. The cost includes the goods brought to the port of destination; freight paid, but insurance not covered. The seller must clear the goods through Customs, and it can only be used for maritime transport or inland navigation. |
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(Cost, Insurance & Freight) The abbreviation is followed by the name of the port of destination, and the cost includes the goods brought to the port of destination; freight paid, and insurance covered. The seller contracts for insurance and pays the corresponding premium. The seller is only bound to contract for insurance with minimum coverage. |
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(Carriage paid to) The seller pays the freight for the carriage of the goods to the named destination. The risk of loss or damage is transferred from the seller to the buyer when goods have been delivered to the carrier. The seller must clear the goods for export. |
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(Carriage and Insurance
Paid to) The seller has the same obligations as under CPT, but, in addition, he has to procure cargo insurance. |
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(Delivered at Frontier) The seller fulfils his obligation when he delivers the goods, cleared through Customs, at the named place at the frontier, but before the customs border of the adjoining country. It is essential to indicate the exact point at the corresponding border. |
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(Delivered ex Ship) The seller fulfils his obligation when he makes the goods available to the buyer on board the vessel at the port of destination, uncleared for import. |
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[Delivered ex Quay (Duty Paid)] The seller fulfils his obligation when he makes the goods available to the buyer on the quay at the named port of destination, cleared through Customs for import. |
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(Delivered Duty Unpaid) The seller fulfils his obligation when he makes the goods available to the buyer at the named place in the country of import. The seller bears all costs and risks related to the delivery of the goods to that place (duties, official charges and taxes not included), as well as all costs and risks related to customs procedures. |
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(Delivered Duty Paid) The seller bears the same duties as under DDU, plus all duties, taxes, and necessary charges to take the goods to the named place. |
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