Incoterms in depth

Question 1

EXworks

Answer 1

risk, cost abd insurance is for the buyer after getting the goods from seller’s premisis

Question 2

Free carrier (FCA)

Answer 2

risk, cost and insurance for the buyer when the seller delivers the goods to the carrier nominated by the buyer

Question 3

Free along side ship (FAS)

Answer 3

risk, cost and insurance for the buyer when seller delivers goods to the port of shipment alongside the vessel

Question 4

Free on board (FOB)

Answer 4

risk, cost and insurance for the buyer when the goods are loaded on the vessel at the port of shipment

Question 5

Cost and freight (CFR)

Answer 5

risk and insurance to buyer when goods delivered on the vessel. cost go to buyer when vesel is not
unloaded at the port of destination

Question 6

Cost, freight and insurance (CIF)

Answer 6

risk to buyer when goods delivered on the vessel. cost and issurance go to buyer when vesel is unloaded at the port of destination

Question 7

Carriage paid to (CPT)

Answer 7

risk and insurance to buyer when goods are handed over to the carrier nominated by the seller, costs go to buyer when goods are unloaded at place of destination

Question 8

Carriage and insurrance paid to (CIP)

Answer 8

risk to buyer when goods are handed over to the carrier nominated by the seller, costs and insurance go to buyer when goods are unloaded at place of destination

Question 9

Delivered at place (DAP)

Answer 9

cost, risks and insurance go to buyer when seller delivers goods not unloaded at the named place of destination

Question 10

Delivered at place unloaded (DPU)

Answer 10

cost, risks and insurance go to buyer when seller delivers goods unloaded at the named place of destination at dispossal of the buyer

Question 11

Delivered Duty paid (DDP)

Answer 11

Costs, risks and insurrance are for seller until they bring the goods ready for unloading to the destination