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EXW (Ex-works, ex-factory, ex-warehouse, ex-mill) The seller fulfills his obligation to deliver the goods to put in your factory, workshop, etc. available to the buyer. Is not responsible for loading the goods on the vehicle provided by the buyer or for clearing the goods for export, unless agreement in otherwise. The buyer supports all costs and risks of removing the goods from the vendor’s address to its final destination. |
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FCA (Free carrier) The seller fulfills his obligation to place the goods at the place fixed by the carrier, after customs clearance for export. If the buyer does not stipulate a specific point, the seller may choose within the range stipulated where the carrier will take care for the goods. This term can be used for any mode of transport, including multimodal. |
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FOB (Free on Board) Is followed by the port of shipping, eg. F.O.B. Buenos Aires. Means that the goods are placed aboard the ship with all costs, fees and risks for the seller until the goods have passed the ship’s rail, shipping excluded. Requires the seller to clear the goods for export. This term may be used only for transportation by sea or inland watercourses. |
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FAS(Free alongside ship) The abbreviation is followed by the name of the port of shipment. The price of the goods are to be understood along (side) of the ship in the port agreed on the dock or barge, with all costs and risks to that point by the seller. The buyer must clear the goods through customs. This term may be used only for transportation by sea or inland watercourses. |
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CFR (Cost & Freight) The abbreviation is followed by the name of the port of destination. The price covers the goods placed in the port of destination, freight paid, but surely not covered. The seller must ship the merchandise in Customs and can only be used for transport by sea or inland waterways. |
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CIF (Cost, Insurance & Freight)/strong> The abbreviation is followed by the name of the port of destination and the price includes the goods placed in the port of destination and insurance prepaid covered. The seller contracts for insurance and pays the insurance premium. The seller is only required to obtain insurance on minimum cover. |
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CPT (Carriage paid to) The seller pays the freight for the carriage of goods to the named destination. The risk of loss or damage is transferred from seller to buyer when the goods have been delivered to the carrier. The seller must clear the goods for export. |
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DAF (Delivered at Frontier) The seller fulfills his obligation when he delivers the goods, cleared customs in place at the frontier but before the customs border of the adjoining country. It is essential to state precisely the point of the corresponding border. |
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CIP (Carriage and Insurance Paid to) The seller has the same obligations as under CPT, but must also obtain insurance at his expense. |
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DES (Delivered ex Ship) The seller fulfills his obligation when the goods are delivered to the buyer on board the ship at the port of destination, cleared for import. |
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DEQ [Delivered ex Quay (Duty Paid)] The seller fulfills his obligation when deliver the goods to the buyer on the quay at the port of destination, cleared for import. |
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DDU (Delivered Duty Unpaid) The seller fulfills his obligation deliver when the goods to the buyer at the named place in the country of import. The seller bears all costs and risks associated with the delivery of goods to the site (excluding duties, taxes and official charges), as well as the costs and risks of carrying out customs formalities. |
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DDP (Delivered Duty Paid) The seller assumes the same obligations in DDU plus taxes and charges necessary to bring the goods to the agreed place. |