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Incoterms
Incoterms 2010 can be divided into four groups, below you will find a summary of the different terms. For the detailed Incoterms, please refer to the book Incoterms 2010, available from your Chamber of Commerce.
Groep E
In Group E, costs and risk are minimal for the seller because he only has to make the goods available on his own premises.
EXW Ex Works…(name the place from where)
- Ex Works…
- transport is arranged by the buyer
- risk passes from the seller to the buyer when the seller makes the goods available
- costs are transferred from the seller to the buyer when the goods are made available by the seller
Groep F
Under F conditions (incl. FCA unless otherwise agreed), the seller arranges and pays for the transport in the country from which it is being exported.
F.O.B. Free on Board…(name the port of departure)
- franco on board
- transport is arranged by the buyer from the moment the goods are on board
- risk passes from the seller to the buyer when the goods pass the ship’s rail in the port of departure
- costs pass from the seller to the buyer when the goods pass the ship’s rail in the port of departure.
F.A.S. Free Alongside Ship…(name the port of departure)
- Franko alongside ship
- transport is arranged by the buyer from the moment the goods arrive at the port of departure.
- risk passes from the seller to the buyer the moment the goods are unloaded alongside the ship.
- costs pass from the seller to the buyer once the goods are unloaded alongside the vessel.
F.C.A. Free Carrier…(name the place)
- Loaded on truck off …(usually place of loading)
- transport is arranged by the buyer or by the seller on behalf of the buyer
- risk passes from seller to buyer when goods are made available to carrier at named place
- costs pass from the seller to the buyer when the goods are made available to the carrier at the named place
Groep C
CPT – Carriage Paid To… ( name the place of destination )
- Carriage Paid To…
- Transportation is arranged by the seller.
- Seller must complete customs formalities where applicable for export of goods. Buyer pays customs clearance etc.
- Risk passes from seller to buyer at the time goods are made available to carrier.
- No insurance requirement, however, is in buyer’s interest.
CIP – Carriage and Insurance Paid to… ( name the place of destination )
- Cost and insurance paid to…
- Carriage and insurance are paid by the seller.
- Risk passes from the seller to the buyer at the time the goods are made available to the carrier.
- Seller must complete customs formalities, where applicable, for export of goods. Buyer pays customs clearance, etc.
CFR – Cost and Freight… ( name the port of arrival )
- The seller pays the transportation cost for the goods to the specified port of destination. Includes unloading costs to the extent normally included in the freight.
- Seller must complete customs formalities, where applicable, for export of goods.
- No insurance obligation, however, is in buyer’s interest.
- Risk is transferred at the time the goods are on board the ship at the port of departure.
- Costs are transferred upon arrival at port of destination. The cost of customs clearance is borne by the buyer.
CIF – Cost, Insurance and Freight… ( name the port of arrival )
- The seller pays the transportation cost for the goods to the specified port of destination. Includes unloading costs to the extent normally included in the freight.
- Seller must complete customs formalities for export of goods where applicable.
- Risk is transferred at the time the goods are on board the vessel at the port of departure.
- Charges are transferred at the time of arrival at port of destination. The cost of customs clearance is borne by the buyer.
- The seller is obliged to take out transport insurance for the goods.
Groep D
DAT – Delivered At Terminal… ( name of terminal at port or place of destination )
- Seller delivers the goods, including unloading, to the agreed terminal at port or place of destination.
- Costs for transport to the agreed terminal at port or place of destination are for seller. Including unloading costs.
- No insurance obligation for the seller. However, seller must provide information to buyer regarding obtaining transport insurance.
- Seller must complete customs formalities, where applicable, for export of goods.
- Risk / cost is transferred at the time the seller has delivered the goods at the agreed terminal at the port or destination, on the agreed date or within the agreed period.
DAP – Delivered At Place… ( name place of destination )
- Seller delivers the goods, excluding unloading, at the agreed place of destination.
- Costs for transport to the agreed destination are for the seller. Excluding unloading costs.
- No insurance obligation for the seller. However, the seller must provide information to the buyer regarding obtaining transport insurance.
- The seller must complete customs formalities, where applicable, for the export of the goods.
- The buyer must pay all unloading costs required to accept the goods from the arriving means of transport.
- Risk/costs are transferred at the time the goods are not unloaded and made available to the buyer at the agreed destination. On the agreed date or within the agreed time period.
DDP – Delivered Duty Paid… ( name place of destination )
- The seller arranges and pays for transport to the agreed destination.
- Includes customs clearance charges and excludes unloading. No insurance obligation for the seller. However, the seller must provide information to the buyer regarding obtaining transport insurance.
- Seller must complete all customs formalities, where applicable, for export and import of goods.
- Risk / cost is transferred at the time the goods are delivered cleared and not unloaded at the agreed destination.
