INCOTERMS

Question 1

EXW

Answer 1

EX WORKS - Risk & Cost transferred at the warehouse. Seller makes goods available; buyer handles everything.

Question 2

FCA

Answer 2

FREE CARRIER - Risk & Cost transferred when goods are with the first carrier.

Question 3

FAS

Answer 3

FREE ALONGSIDE SHIP - Risk & Cost transferred when the goods are alongside the ship.

Question 4

FOB

Answer 4

FREE ON BOARD - Risk & Cost transferred when the goods are on board the ship (cross over the barrier).

Question 5

CFR

Answer 5

COST & FREIGHT - Risk transferred at loading port, Cost transferred at destination port.

Question 6

CIF

Answer 6

COST, INSURANCE & FREIGHT - Risk transferred at loading port, Cost transferred at destination port. Seller pays insurance

Question 7

CPT

Answer 7

CARRIAGE PAID TO - Risk transferred at first carrier, Cost transferred at destination port.

Question 8

CIP

Answer 8

CARRIAGE & INSURANCE PAID TO - Risk transferred at first carrier, Cost transferred at destination port. Seller pays insurance.

Question 9

DAP

Answer 9

DELIVERED AT PLACE - Risk & Cost transferred at named destination.

Question 10

DPU

Answer 10

DELIVERED AT PLACE, UNLOADED - Risk & Cost transferred at named destination. Seller unloads.

Question 11

DDP

Answer 11

DELIVERED DUTY PAID - Risk & Cost transferred at named destination. Seller handles everything.

Question 12

DAT

Answer 12

DELIVERED AT TERMINAL -