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Incotermsfinal

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  • 1. EXPORT IMPORT PROCEDURES AND DOCUMENTATION (INCOTERMS 2000)
  • 2. INCOTERMS 2000-An Introduction
    • An important tool for determination of the costs and risks being allocated to different parties.
    • Year of Introduction-1936.
    • Last year of updation-2000.
    • From its year of introduction till the year 2000 the INCOTERMS have been updated for six times.
  • 3. THE ‘C’ TERMS
    • They fall under the “Group-C category” of Incoterms.
    • The “C terms actually classify the responsibilities of the seller and the buyer.
    • The INCOTERMS falling in the ‘C’ category are:
    • 1.CFR:Cost and Freight.
    • 2.CIF: Cost,Insurance and freight.
    • 3.CPT:Carriage paid to.
    • 4.CIP:Carriage and Insurance paid to.
  • 4.  
  • 5. CFR-Cost and Freight(…named port of destination)
    • Role of the seller:
    • 1.To pay cost and freight charges to bring the goods to named port of destination.
    • 2.To transfer the costs incurred during damage to the goods after the time of delivery to the buyer.
    • 3.This terminology requires the seller to clear all the charges for export.
    • Role of the buyer:
    • 1.To pay for the import clearance,duties and taxes.
  • 6. CIF- Cost,Insurance & Freight(named port of destination)
    • Role of the Seller :
    • 1. To pay for Cost and Freight to bring the goods
    • to named port of destination.
    • 2.To transfer the costs incurred during damage to the goods after the time of delivery to the buyer.
    • 3.Procuring the Marine Insurance against buyers risk of loss or damage to goods during the voyage.
    • Role of the buyer:
    • 1.To pay for the import clearance ,and the unloading charges and additional charges if any.
  • 7. CPT-Carriage paid to(..named place of destination)
    • Role of the Seller :
    • 1.Deliver goods to the carrier nominated by him.
    • 2.Bear the additional cost of carriage to bring the goods to the destination point.
    • Role of the buyer:
    • 1.To bear all the risks after the delivery of goods.
    • 2.To bear all the additional costs occurring after the goods have been delivered.
  • 8. CIP-Carriage and Insurance Paid to (…named place of destination)
    • Role of the Seller:
    • 1.Deliver goods to the carrier nominated by him.
    • 2.Payment of additional cost of carriage necessary to bring the goods to the destination.
    • 3.Procurement of Insurance against buyers risk of loss or damage done to goods during the carriage.
    • Role of buyer:
    • 1.To pay for import clearance and the unloading charges of goods.
  • 9. THANK YOU