Incoterms to know Flashcards
EXW ex works
Places most responsibility with te buyer. Seller is expected to have the goods ready for collection the agreed place of delivery.
FCA Free carrier
A trade term dictating that a seller of goods is responsible for the delivery of those goods to a destination specified by the buyer.
CIP Carriage and insurance paid to
Costs and insurance are for the seller risks transfer to the buyer in the transport vehicle
DDP Delivered duty paid
The seller assumes all responsibilities and costs for delivering the goods to the named place of destination
FOB free on board
Seller clears the goods for export and ensures they are delivered to and loaded onto the vessel for transport
CIF Cost, insurance and freight
International shipping agreement used when freight is shipped via sea or waterway. Seller is responsible for the costs, insurance and freight of the buyer’s shipment while in transit.