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  • The Following Chart Is A General Summary Of Obligations Of The Buyer And Seller Based On The 11

Get The Following Chart Is A General Summary Of Obligations Of The Buyer And Seller Based On The 11

Incoterms 2010 The following chart is a general summary of obligations of the buyer and seller based on the 11 INCOTERMS. The International Chamber of Commerce created Incoterms as a worldwide standard.

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2. Classification of the 11 Incoterms® 2010 rules EXW EX WORKS. FCA FREE CARRIER. CPT CARRIAGE PAID TO. CIP CARRIAGE AND INSURANCE PAID TO. DAT DELIVERED AT TERMINAL. DAP DELIVERED AT PLACE. DDP DELIVERED DUTY PAID.

The rules in Group D apply to any mode of transport. For each rule, the seller is responsible for all costs and the risks of loss or damage to the goods until they've been delivered to the buyer. The main differences between the rules in this group relate to the payment of import duties and unloading costs.

Incoterms, widely-used terms of sale, are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specify who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities.

Currently, there are 11 different incoterms. Each type is divided into four groups: E, F, C and D. These categories are determined by the delivery location and who is responsible for covering the cost of each part of the journey. The groups are then split into sub-categories which refer to various scenarios.

For every kind of incoterm is it important that the place is mentioned where the risks and responsibilities shift from seller to buyer. Ex Works (EXW) ... Free Carrier (FCA) ... Carriage Paid To (CPT) ... Carriage and Insurance Paid To (CIP) ... Delivery At Terminal (DAT) ... Delivery At Place (DAP) ... Delivery Duty Paid (DDP)

The seller's responsibility includes arranging export clearance. At the same time, the buyer pays the cost of marine freight, bill of lading fees and insurance. He is also responsible for unloading and local transportation costs from the port of arrival to the final destination.

Classification of Incoterms The Incoterms are divided into four principal categories: E, F, C and D. Category E (Departure), which contains only one trade term, i.e. EXW (Ex Works). Category F (Main Carriage Unpaid), which contains three trade terms: FCA (Free Carrier)

11 Incoterms and Why You Should Know Them EXW – Ex Works. FCA – Free Carrier. CPT – Carriage Paid To. CIP – Carriage And Insurance Paid To. DAT – Delivered At Terminal. DAP – Delivered At Place. DDP – Delivered Duty Paid. FAS – Free Alongside Ship.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232