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Incoterms
Incoterms
Incoterms
Incoterms
Incoterms
Incoterms
Incoterms
Incoterms
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Incoterms

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  • 1. INCOTERMS www.iccwbo.org
  • 2. INCOTERMS- www.iccwbo.org• Known as International commercial term- INCOTERMS developed by International Chambers of commerce- ICC, Paris in 1936.• INCOTERMS 2010 is current version effective from January 1, 2011.• Earlier version INCOTERMS 2000 could also be used.• Define cost risk and obligations of two parties.• Inco terms apply if mentioned in contract or LC
  • 3. Classification of the 11 Incoterms® 2010 rules are presented in two distinct classes• RULES FOR ANY • RULES FOR SEA AND MODE OF TRANSPORT INLAND WATERWAY• EXW TRANSPORT• FCA • FAS• CPT • FOB• CIP • CFR• DAT • CIF• DAP• DDP
  • 4. INCOTERMS- www.iccwbo.org• Pre carriage mean transportation up to vessel/port/Border• Main carriage mean sea freight/foreign freight
  • 5. INCOTERMS- www.iccwbo.org• Under F terms- pre carriage paid by seller and main carriage by buyer• Under C terms pre carriage and main carriage paid by seller but seller risk limited till delivery to main carrier• Under D terms all risk and expenditure up to destination are in seller a/c
  • 6. Terms of delivery in 2000 and 2010 rules• EXW (Ex Works) name of city specified, without loading and clearing• FCA (Free Carriers) named place- cleared for export, loaded on carrier,• FAS (Free Alongside Ship) named port of, cleared, inland freight paid• FOB (Free on Board) named port of shipment, goods loaded on vessel
  • 7. Terms of delivery in 2000 and 2010 rules• CFR (Cost and Freight) also C&f, named port of destination - FOB + sea freight upto destination port• CPT (carriage Paid To) named place of destination like CFR any mode• CIF (cost, Insurance, and Freight) named port of destination- CFR plus insurance by sea• CIP (Carriage and Insurance Paid to) named place of destination same as CIF by all modes, air, post
  • 8. D terms in 2000 and 2010 rules• Inco terms 2000 rules- • Inco terms 2010• DAF (Delivered at • DAT DELIVERED Frontier) named land AT TERMINAL border,• DES (Delivered Ex Ship) • DAP DELIVERED named port of destination AT PLACE• DEQ (Delivered Quay) • DDP DELIVERED named port of DUTY PAID destination- DES plus discharging,• DDU (Delivered Duty Unpaid) named place of destinationduty unpaid• DDP (Delivered Duty Paid) named place of destination-

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