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Incoterm
Incoterms©, or International Commercial Terms, are a set of 11 rules defined by the International Chamber of Commerce (ICC). Each rule defines clearly rights and obligations of both seller and buyer when exchanging goods. They are largely incorporated in commercial contracts worldwide. Please find below a short resume of each rule, as given by the ICC. Those terms are protected by copyrights.
Definitions
Incoterms
Sketch
| Seller | Buyer | |||||||||||||||||
| Freight | ||||||||||||||||||
| Insurance, Cost | ||||||||||||||||||
| Risk | ||||||||||||||||||
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| Plant | Duty | Carrier | Quai | Vessel | Vessel | Quai | Carrier | Duty | Plant | |||||||||
| E | EXW Ex Works |
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| F | FCA Free Carrier |
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Shipping only |
FAS Free alongside ship | >
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| FOB Free on board |
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| C | CFR Cost and Freight |
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| CIF Cost, Insurance, Freight |
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| CPT Carriage paid to |
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| CIP Carriage and Insurance paid to |
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| D | DAT Delivered at terminal |
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| DAP Delivered at place |
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| DDP Delivery duty paid |
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