These internationally accepted commercial terms (INCOTERMS) were first published in 1936 by the International Chamber of Commerce and have since been updated several times, most recently in 2010. INCOTERMS clarify the responsibilities of buyers and sellers in international commercial transactions by defining obligations related to delivery, costs, risks, and customs clearance. There are 11 INCOTERMS divided into groups based on transport mode and obligations. Each term specifies whether the buyer or seller is responsible for tasks such as carriage, insurance, and import clearance.
Basic Shipping Documentation.
- An induction on the container transport, and its driving forces.
- Outlines of the parties and sectors who involve in the business.
- Outlines of the operation, and
- Introduction of the various key documents associated with each sector of the business, and their significance.
What documents are produced in facilitating the shipment cycle:
- Apart from the physical transportation of the goods from the buyer to the seller, there are various kinds of documents involved.
- This presentation aims at providing a basic knowledge on the key documents.
- For details on the documents, you may need to refer to the relevant text.
Basic Shipping Documentation.
- An induction on the container transport, and its driving forces.
- Outlines of the parties and sectors who involve in the business.
- Outlines of the operation, and
- Introduction of the various key documents associated with each sector of the business, and their significance.
What documents are produced in facilitating the shipment cycle:
- Apart from the physical transportation of the goods from the buyer to the seller, there are various kinds of documents involved.
- This presentation aims at providing a basic knowledge on the key documents.
- For details on the documents, you may need to refer to the relevant text.
An in-depth presentation about International Commercial Terms that helps you understand this trade standard with the aid of intuitive pictures, charts and graphical interpretations.
INTERNATIONAL SHIPPING TERMS , INCOTERMSAman Dwivedi
INTERNATIONAL SHIPPING TERMS (INCOTERMS)
1. EXW – Ex Works (named place of delivery)
2. FCA – Free Carrier (named place of delivery)
3. CPT – Carriage Paid To (named place of destination)
4. CIP – Carriage and Insurance Paid to (named place of destination)
5. DAT – Delivered At Terminal (named terminal at port or place of destination)
6. DAP – Delivered At Place (named place of destination)
7. DDP – Delivered Duty Paid (named place of destination)
8. FAS – Free Alongside Ship (named port of shipment)
9. FOB – Free on Board (named port of shipment)
10. CFR – Cost and Freight (named port of destination)
11. CIF – Cost, Insurance & Freight (named port of destination)
This PowerPoint presentation talks about port cluster and other services involved in Port hinterland area, it talks about formation, process, activities involved, logistics
An in-depth presentation about International Commercial Terms that helps you understand this trade standard with the aid of intuitive pictures, charts and graphical interpretations.
INTERNATIONAL SHIPPING TERMS , INCOTERMSAman Dwivedi
INTERNATIONAL SHIPPING TERMS (INCOTERMS)
1. EXW – Ex Works (named place of delivery)
2. FCA – Free Carrier (named place of delivery)
3. CPT – Carriage Paid To (named place of destination)
4. CIP – Carriage and Insurance Paid to (named place of destination)
5. DAT – Delivered At Terminal (named terminal at port or place of destination)
6. DAP – Delivered At Place (named place of destination)
7. DDP – Delivered Duty Paid (named place of destination)
8. FAS – Free Alongside Ship (named port of shipment)
9. FOB – Free on Board (named port of shipment)
10. CFR – Cost and Freight (named port of destination)
11. CIF – Cost, Insurance & Freight (named port of destination)
This PowerPoint presentation talks about port cluster and other services involved in Port hinterland area, it talks about formation, process, activities involved, logistics
Work, Life and Leisure....... Power Point Presentationssh09
This Power Point Presentation is based on the chapter "Work, Life and Leisure" grade X History. It is very interesting and will help students in understanding the chapter easily.
This presentation summarises some practical aspects of Incoterms 2010.
It was given at a PricewaterhouseCoopers and Irish Exporters Association customs and trade seminar held in Cork, Ireland on 23 February 2011.
The Incoterms, those rules that define the responsibilities of the buyer and seller in transportation of goods, will be updated in 2020, so some possible changes are expected.
INCOTERMS are a set of three-letter standard trade terms used worldwide in international and domestic contracts for the sale of goods. Learn their definitions and how they are used. AFC International can help you import your goods bound for the U.S. quick and easy. Visit http://www.afcinternationalllc.com/ to get started.
INCOTERMS And CISG, (CONTRACT FOR THE INTERNATIONAL SALE OF GOODS)
LAW8118-INTERNATIONAL BUSINESS LAW
Examines the impact of the law on the enterprises that conduct international business and on particular transactions entered into by such enterprises. The law concerning the formation and some other aspects of international sales contracts especially pursuant to the CISG as well as the law relating to the international transport of goods by sea and international payments (documentary credits) will be examined. The course will also explore selected legal aspects of one particular regional grouping (namely the European Union). In addition, a study will be made of the law concerning some of the methods by which private international legal disputes are resolved with the focus being on international commercial arbitration.
#Changes in INCOTERMs ® 2020 : How to Use the Terms# By SN PanigrahiSN Panigrahi, PMP
#Changes in INCOTERMs ® 2020 : How to Use the Terms# By SN Panigrahi,
INCOTERMs ® - 2020,
History of INCOTERMs,
What Do INCOTERMs ® Do?,
International Sales Transactions,
What are the main changes in INCOTERMs ® 2020?,
INCOTERMS@ 2020 Rules Classification ,
What INCOTERMs ® - 2020 Do Not Define?,
How to use INCOTERMs ® - 2020,
Can I still use Incoterms® 2010 after January 1, 2020?
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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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. 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. 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. Importance
Reduce the uncertainty caused by trade practices in
different countries.
Simplify the negotiations involved in international
commerce.
Ensure common understanding of obligations
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. 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. 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
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. 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. 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. 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. 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. 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. 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. 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. 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
Editor's Notes
Set of international rules for the interpretation of the most commonly used foreign trade terms.
The seller makes the goods available at his/her premises (works, factory, warehouse, plant) ready for collection. The buyer is responsible for uploading. The buyer pays all transportation costs and also bears the risks for bringing the goods to their final destination. This term places the maximum obligation on the buyer and minimum obligations on the seller.
The seller must deliver the goods, cleared for export, to the carrier nominated by the buyer at the named place. Costs for transportation and risk of loss transfer to the buyer after delivery to the carrier. The word "free" means the seller has an obligation to deliver goods to a named place for transfer to a carrier “Carrier” means any person who, in a contract of carriage, undertakes to perform or to procure the performance of carriage by rail, road, air, sea, inland waterway or by a combination of such modes.
The seller must place the goods alongside the ship at the named port. The seller must clear the goods for export. Suitable only for maritime transport but NOT for multimodal sea transport in containers. This term is typically used for heavy-lift or bulk cargo
The seller must load the goods on board of the vessel by the buyer. Cost and risk are divided when the goods are actually on board of the vessel. The seller must clear the goods for export. The seller pays for transportation of goods to the port of shipment, loading cost. The buyer pays cost of marine freight transportation, insurance, uploading and transportation cost from the arrival port to destination.
Seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the vessel. The CFR term requires the seller to clear the goods for export. Insurance for the goods is NOT included. This term is formerly known as CNF (C&F, or C+F). This term can only be used for sea and inland waterway transport.
The seller has the same obligations as under CFR but with the addition that he has to procure marine insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The buyer should note that under the CIF term the seller is only required to obtain insurance on minimum coverage. The CIF term requires the seller to clear the goods for export. This term can only be used for sea and inland waterway transport.
The seller pays the freight for the carriage of the goods to the named destination. Risk transfers to buyer upon handling goods over to the first carrier at place of shipment in the country of export. The CPT term requires the seller to clear the goods for export. This term may be used for any mode of transport including multimodal transport.
The obligations are the same as under CPT with the addition that the seller must procure insurance against the buyer's risk of loss of, or damage to the goods during carriage. The containerized transport/multimodal equivalent of CIF. Seller pays for carriage and insurance to the named destination point, but risk passes when the goods are handed over to the first carrier.
Seller pays for carriage to the terminal, except for costs related to import clearance, and assumes all risks up to the point that the goods are unloaded at the terminal.
Seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks prior to the point that the goods are ready for unloading by the buyer.
The seller fulfils his obligation to deliver when the goods have been made available at the named place in the country of importation. The seller has to bear the risks and costs, including duties, taxes and other charges of delivering the goods thereto, cleared for importation. This term may be used irrespective of the mode of transport. This term should not be used if the seller is unable directly or indirectly lo obtain the import licence. Whilst the EXW term represents the minimum obligation for the seller, DDP represents the maximum obligation.
