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Incoterms pankaj

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Incoterms pankaj

  1. 1. INternational COmmercial TERMS PRESENTED BY | PANKAJ PRABHA |&| ANKITA SINGH| PUNJAB NATIONAL BANK – MANIPAL UNIVERSITY BANGALORE CAMPUS
  2. 2. INCOTERMS These are internationally accepted commercial terms defining the respective roles and responsibilities (including costs) of the buyer and seller in the arrangement of transportation and other obligations
  3. 3. The Origin and History First published by the International Chamber of Commerce (ICC) in 1936 & since updated in 1953, 1967, 1976, 1980, 1990, 2000 and then the current revision in 2010. Incoterms® reflect world-wide trade practices, as practices change, Incoterms® are revised
  4. 4. Purpose To clarify how functions, costs and risks are split between the buyer and the seller in connection with delivery of goods as required in sales contract Each term clearly specifies the responsibilities of the seller and the buyer Delivery, risks and costs are the critical points
  5. 5. Importance Reduce the uncertainty caused by trade practices in different countries. Simplify the negotiations involved in international commerce. Ensure common understanding of obligations
  6. 6.   Group Term Complete Name Transport Mode E   DEPARTURE EXW   Ex Works Any       F   MAIN CARRIAGE UNPAID FCA   Free Carrier Any   FAS   Free Alongside Ship Sea   FOB   Free on Board Sea       C   MAIN CARRIAGE PAID CFR   Cost and Freight Sea   CIF   Cost Insurance and Freight Sea   CPT   Carriage Paid To Any   CIP   Carriage and Insurance Paid to Any       D   ARRIVAL DAT   Delivered At Terminal Any   DAP   Delivered At Place Any     DDP   Delivered Duty Paid Any  Incoterms 2010 
  7. 7. Changes in Incoterms from 2000 to 2010 New Terms Added 1. DAT – Delivered at Terminal (named terminal/port of Delivery) 2. DAP – Delivered at Place ( named Place of delivery) Terms Eliminated 1.DAF – Delivered at Frontier (named place of delivery) 2.DES – Delivered Ex Ship (named port of delivery) 3.DEQ – Delivered Ex Quay (named port of delivery) 4.DDU – Delivered Duty Unpaid (named place of destination)
  8. 8. The Steps of Global Logistics Main International Transportation 4 Handling Inbound Customs Clearance Duties Final TransportationUnloading Packing Loading Preliminary Transportation Customs Clearance for Export Handling Outbound Insurance 1 2 3 5 6 7 891011
  9. 9. Incoterm  2010 Export- Customs  declaration Carriage to  port of export Unloading  of truck in  port of  export Loading  charges in  port of  export Carriage (Sea  Freight/Air  Freight) to port  of import Insurance Loading on  truck in  port of  import Carriage to  place of  destination Import  customs  clearance,  Imports  Taxes EXW Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer
  10. 10. Incoterm  2010 Export- Customs  declaration Carriage to  port of  export Unloading  of truck in  port of  export Loading  charges in  port of  export Carriage (Sea  Freight/Air  Freight) to port  of import Insurance Loading on  truck in  port of  import Carriage to  place of  destination Import  customs  clearance,   Imports  Taxes FCA Seller Seller Buyer Buyer Buyer Buyer Buyer Buyer Buyer
  11. 11. Incoterm 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Imports taxes FAS Seller Seller Seller Buyer Buyer Buyer Buyer Buyer Buyer
  12. 12. Incoterm 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Imports Taxes FOB Seller Seller Seller Seller Buyer Buyer Buyer Buyer Buyer
  13. 13. Incoter m 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Import Taxes CFR Seller Seller Seller Seller Seller Buyer Buyer Buyer Buyer
  14. 14. Incoterm 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Import Taxes CIF Seller Seller Seller Seller Seller Seller Buyer Buyer Buyer
  15. 15. Incoter m 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Import Taxes CPT Seller Seller Seller Seller Seller Buyer Seller Buyer Buyer
  16. 16. Incoterm 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Import Taxes CIP Seller Seller Seller Seller Seller Seller Seller Buyer Buyer
  17. 17. Incoter m 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Terminal Charges Carriage to place of destinatio n Import customs clearance, Import Taxes DAT Seller Seller Seller Seller Seller Seller Buyer Buyer Buyer
  18. 18. Incoterm 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Import Taxes DAP Seller Seller Seller Seller Seller Seller Seller Seller Buyer
  19. 19. Incoterm 2010 Export- Customs declaration Carriage to port of export Unloading of truck in port of export Loading charges in port of export Carriage (Sea Freight/Air Freight) to port of import Insurance Loading on truck in port of import Carriage to place of destination Import customs clearance, Import Taxes DDP Seller Seller Seller Seller Seller Seller Seller Seller Seller

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