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Our company aemaris, s.l. Cargo & Shipping believe that its very important that our customers knows INCOTERMS terms in order to handle with efficiently their international shipments and knows before do their shipment the total cost of their international transport movements. INCOTERMS defined as one of the most important concepts in international trade. We define the terms of negotiating our purchases – sales. Establish international rules that have as an auxiliary purpose between the identification of the obligations between the parties (buyer / seller) and reduce legal risks.
Definitions
EXW (Ex-works): In factory agreed place. The seller has fulfilled his delivery obligation to place the goods at its factory to the buyer. The buyer bears all costs and risks of removing the goods from the seller’s premises to the final destination.
EXW is used in any kind of transport.
FAS (Free Alongside Ship): Free Alongside Ship, named port of shipment. The seller delivers the goods on the quay at the agreed port of loading, ie, the side vessel. This INCOTERM is characteristic of bulk goods or bulky since they were deposited in specialized port terminals in the port docks. The seller is responsible for processing export.
FAS is only used for shipping.
FOB (Free On Board): Free on board at the port of shipment. The seller delivers the goods on the vessel. The seller will hire transportation through a freight transport but the cost is borne by the buyer. This INCOTERM is one of the most used in the movement of goods. This INCOTERM is used for general cargo and cannot be used for bulk goods.
FOB is only used for shipping.
FCA (Free Carrier): Free Carrier at the agreed place. The seller agrees to deliver the goods at the agreed point in the country of origin, they can be forwarder warehouses, stores generally related to the carrier. It will take care of the costs until the goods is situated at the point agreed with the customs of the country.
FCA is used in any type of transport.
CFR (Cost and Freight): Cost and Freight named port of destination. The seller is responsible for all costs including the type of main transport agreed until the goods arrive at the destination port. The risk, however, is transferred to the buyer at the time the merchandise is loaded on the ship in the country of origin. This INCOTERM is used for general cargo and is not advisable to use for bulk goods.
CFR is only used for shipping.
CIF (Cost, Insurance and Freight): Cost, Insurance and Freight named port of destination. The seller is responsible for all costs, including the agreed main transport and insurance until the goods arrive at the port of destination. Insurance contracted by the seller to the buyer is the beneficiary. The risk is transferred to the buyer at the time the merchandise is loaded on the ship in the country of origin. The CIF price is what makes the customs value of the goods, making it one of the most used INCOTERM.
CIF is only used for shipping.
CPT (Carrier Paid To …): Carriage Paid To (named place of destination). The seller is responsible for all costs, including the main transportation until the goods arrive at the agreed point in the country of destination. The risk is transferred to the buyer at the time of delivery of the goods to the carrier in the country of origin.
CPT is used in any type of transport.
CIP (Carrier and Insurance Paid): Carriage and Insurance Paid to (place of destination). The seller is responsible for all costs, including the main transport and insurance until the goods arrive at the agreed point in the country of destination. The risk is transferred to the buyer at the time of delivery of the goods to the carrier in the country of origin and the beneficiary of the insurance contract by the seller will be the buyer.
CIP is used in any type of transport.
DAT (Delivery at Terminal): Delivered at Terminal (named port of destination). The seller is responsible for all costs, including principal (not mandatory) transport and insurance until the goods are unloaded at the terminal agreed in the destination country. The risk is assumed until now. In this INCOTERM it becomes very important that the place of delivery of the goods is clearly specified.
DAT is frequently used in bulk transport goods, payment of customs is paid by the buyer.
DAP (Delivery at Place): free at point (place of destination). The seller is responsible for all costs, including the main transport and insurance (not mandatory) but not the associated costs of imports, until the goods this to the buyer in a vehicle ready to be downloaded. The risk is assumed until now.
DAP is used in any type of transport.
DDP (Delivered Duty Paid): Delivered Duty Paid (place of destination). The seller pays all costs to leave the goods at the agreed point in the country of destination. The buyer does not assume the completion of any formality. The import customs charges are paid by the seller.
DDP is used in any type of transport.