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| INCO Terms |
The
purpose of Incoterms is to provide a set
of international rules for the interpretation
of the most commonly used trade terms in
foreign trade. Thus, the uncertainties of
different interpretations of such terms
in different countries can be avoided or
at least reduced to a considerable degree.The
scope of Incoterms is limited to matters
relating to the rights and obligations of
the parties to the contract of sale with
respect to the delivery of goods. Incoterms
deal with a number of identified obligations
imposed on the parties and the distribution
of risk between the parties. In total 13
Incoterms have been defined which are grouped
into four basically different categories,
applicable for sea and inland waterway transport
or for all modes of transport:
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| |
Applicable
for sea transport only |
Applicable
for all modes of transport (including water) |
| Departure
term |
|
EXW
(Ex Works) |
| Shipment
term, main carriage unpaid |
FAS
(Free Alongside Ship)
FOB (Free On Board) |
FCA
(Free Carrier) |
| Shipment
term, main carriage paid |
CFR
(Cost and Freight)
CIF (Cost, Insurance and Freight) |
CPT
(Carriage Paid To)
CIP (Carriage and Insurance Paid to) |
| Delivery
term |
DES
(Delivered Ex Ship)
DEQ (Delivered Ex Quay) |
DAF
(Delivered At Frontier)
DDU (Delivered Duty Unpaid)
DDP (Delivered Duty Paid) |
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| From
top (EXW) to bottom (DDP) the point of transfer
in the transport chain moves from the sellers
premises to the buyers place. The second
and third group specify the shipment conditions,
with freight and insurance unpaid or paid.
For the first 3 groups the risk of loss
or damage during (sea) transportation are
with the buyer of the goods, whereas for
the fourth group all risks up to delivery
are with the seller of the goods. |
| For
a full description of all obligations and
risks associated with a specific term, please
refer to INCOTERMS 2000 as published by
the International Chamber of Commerce. |
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Race Logistics S.A.
Lavalle 652 3°A,
Capital Federal, C1047AAN,
Buenos Aires, Argentina.
Phone: +54.11.5556.9216/7/8
Fax: +54.11.5556.9219
Email: info@race-logistics.com |
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