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Incoterm
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As of January 1, 2011 the eighth edition, Incoterms 2010,[1][2] have effect. The changes therein affect all of the five terms
previously listed in section D, which are now obsolete and have been replaced with these three:
Contents
1 Group E – Departure
2 Group F – Main carriage unpaid
3 Group C – Main carriage paid
4 Group D – Arrival
5 Summary of terms
6 References
7 External links
Group E – Departure
EXW – Ex Works (named place)
The seller makes the goods available at his premises. The buyer is responsible for all charges.
This trade term places the greatest responsibility on the buyer and minimum obligations on the seller. The Ex Works term is often
used when making an initial quotation for the sale of goods without any costs included.
EXW means that a seller has the goods ready for collection at his premises (Works, factory, warehouse, plant) on the date agreed
upon.
The buyer pays all transportation costs and also bears the risks for bringing the goods to their final destination.
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Group D – Arrival
The number of Incoterms® rules has been reduced from 13 to 11. This has been achieved by substituting two new rules that may
be used irrespective of the agreed mode of transport – DAT, Delivered at Terminal, and DAP, Delivered at Place – for the
Incoterms® 2000 rules DAF, DES, DEQ and DDU.
Under both new rules, delivery occurs at a named destination: in DAT, at the buyer’s disposal unloaded from the arriving vehicle
(as under the former DEQ rule); in DAP, likewise at the buyer’s disposal, but ready for unloading (as under the former DAF, DES
and DDU rules).
The new rules make the Incoterms® 2000 rules DES and DEQ superfluous. The named terminal in DAT may well be in a port, and
DAT can therefore safely be used in cases where the Incoterms® 2000 rule DEQ once was. Likewise, the arriving “vehicle” under
DAP may well be a ship and the named place of destination may well be a port: consequently, DAP can safely be used in cases
where the Incoterms® 2000 rule DES once was. These new rules, like their predecessors, are “delivered”, with the seller bearing
all the costs (other than those related to import clearance, where applicable) and risks involved in bringing the goods to the named
place of destination.
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Summary of terms
NOTE: The following information refers to Incoterms 2000 and is now replaced with different information in Incoterms 2010[3]
For a given term, "Yes" indicates that the seller has the responsibility to provide the service included in the price. "No" indicates
it is the buyer's responsibility. If insurance is not included in the term (for example, CFR) then insurance for transport is the
responsibility of the buyer or the seller depending on who owns the cargo at time of transport. In the case of CFR terms, it would
be the buyer while in the case of CIF or CIP terms, it would be the seller.
Unload Unload
Landing Landing Entry
Transport from Transport onto
Load Export- charges charges Transport Entry - -
to truck to trucks
Incoterms to duty at port at to Insurance Customs Duties
exporter's at port importer's from the
truck payment of importer's destination clearance and
port of port importers'
origin port Taxes
origin port
EXW No No No No No No No No No No No No
FCA Yes Yes Yes No No No No No No No No No
FAS Yes Yes Yes Yes No No No No No No No No
FOB Yes Yes Yes Yes Yes No No No No No No No
CFR Yes Yes Yes Yes Yes Yes Yes No No No No No
CIF Yes Yes Yes Yes Yes Yes No No No Yes No No
CPT Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No
CIP Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No
DAF Yes Yes Yes Yes Yes Yes No No No No No No
DES Yes Yes Yes Yes Yes Yes No No No No No No
DEQ Yes Yes Yes Yes Yes Yes Yes No No No No No
DDU Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No
DDP Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes
References
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Incoterm - Wikipedia, the free encyclopedia http://en.wikipedia.org/wiki/Cost,_Insurance_and_Freight
External links
Incoterms 2010 Videos explaining the ICC rules for the use of domestic and international trade terms (http://www.import-
export-made-easy.com/incoterms-2010-videos.html)
Ince & Co : New Incoterms 2010 – a summary of the principal changes to Incoterms 2000 (http://www.incelaw.com
/documents/pdf/Strands/International-Trade/incoterms-2010.pdf)
Short overview of international commerce vocabulary (http://www.smartchinasourcing.com/shipping/china-shipping-advice-
import-terminology.html)
International Chamber of Commerce (ICC) incoterm list (http://www.iccwbo.org/incoterms/id3040/index.html)
David, P. & Stewart, R. (2010). International Logistics 3rd Ed. Cengage Learning: Mason, OH, Pg 113.
International Commercial Terms used in Export Import (http://www.comxport.com/dic/incoterms_eng.htm) Comxport Trade
Data
Incoterms 2010 Wall Chart (http://www.winglobal.ca/incoterms_2010)
Retrieved from "http://en.wikipedia.org/wiki/Incoterm#Cost.2C_Insurance_and_Freight"
Categories: International trade | Commercial item transport and distribution | International commerce terms
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