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TERMS OF DELIVERY - INCOTERMS 2000

 

Incotems (eng. International Commerce Terms) are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International commercial transactions or procurement processes. The Incoterms rules are accepted by governments, legal authorities, and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries. As such they are regularly incorporated into sales contracts worldwide.

FOB. Free On Board (named port of shipment): the cargo is loaded on board
EXW
. Ex Works (named place): ex factory – collection by cargo owner 
CIF. Cost, Insurance and Freight (named port of destination): cargo is under insurance and delivered to the port of consignee (no unloading) 
FCA
. Free Carrier (named place of delivery): cargo is delivered to the consignee forwarder 
FAS. Free Alongside Ship (named port of shipment): cargo is delivered to the ship of consignee
CFR. Cost and Freight (named port of destination): cargo is delivered to the port of consignee (no unloading) 
CPT. Carriage Paid To (named port of destination): cargo is delivered to the forwarder of consignee in designated destination 
CIP. Carriage and Insurance Paid to (named port of destination): cargo is under insurance and delivered to the destination place
DAF. Delivered At Frontier (named place of delivery) — cargo is delivered to the border without customs processing

DES. Delivered Ex Ship (delivered ex ship) — the cargo is delivered by ship without customs processing
DEQ. Delivered Ex Quay (named port of delivery) — cargo is delivered by ship and unloaded without customs processing 
DDU. Delivered Duty Unpaid (named place of destination) — cargo is delivered to the consignee, payment of customs fees is obligatory of consignee 
DDP. Delivered Duty Paid (named place of destination) — cargo is delivered to the consignee, after customs clearance.