Incoterms to know Flashcards

1
Q

EXW ex works

A

Places most responsibility with te buyer. Seller is expected to have the goods ready for collection the agreed place of delivery.

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2
Q

FCA Free carrier

A

A trade term dictating that a seller of goods is responsible for the delivery of those goods to a destination specified by the buyer.

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3
Q

CIP Carriage and insurance paid to

A

Costs and insurance are for the seller risks transfer to the buyer in the transport vehicle

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4
Q

DDP Delivered duty paid

A

The seller assumes all responsibilities and costs for delivering the goods to the named place of destination

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5
Q

FOB free on board

A

Seller clears the goods for export and ensures they are delivered to and loaded onto the vessel for transport

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6
Q

CIF Cost, insurance and freight

A

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.

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