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In the last few blogs, we highlighted various factors that concern sea freight, payment terms and responsibilities between buyers and sellers. We’re highlighting the rest of the IncoTerms in this blog, to ensure that you have an all-round view of the ins and outs of all transport modes for whatever your freight forwarding requirement is.

Here are the rest

IncoTerm SELLER BUYER
EXW

 

Ex

Works

 

All costs up to goods placed for pickup at buyer’s disposal All costs from loading from warehouse of sellers
FCA

 

Free

Carrier

All costs up to delivery to carrier at mutually agreed upon location between Buyer & Seller

Includes customs clearance (at origin)

All costs from handover to carrier

Excludes customs clearance (at origin)

 

CPT

 

Carriage

Paid

To

All costs up to delivery to carrier at mutually agreed upon location between Buyer & Seller

Excludes customs clearance and insurance (at origin)

All costs after delivery to mutually agreed upon location between Buyer & Seller

Includes customs clearance (at destination)

Transportation and insurance for whole carriage

CIP

 

Carriage

and

Insurance

Paid to

All costs up to delivery at mutually agreed upon location between Buyer & Seller

Includes customs clearance (at origin)

All costs after delivery to mutually agreed upon location between Buyer & Seller

Includes customs clearance (at destination)

Transportation and insurance after delivery

DAT

 

Delivered

At

Terminal

All costs up to delivery to terminal mutually agreed upon location between Buyer & Seller

Pick up ready

Excludes customs clearance (at destination)

All costs after delivery to terminal

Includes customs clearance (at destination)

DAP

 

Delivered

At

Place

All costs up to delivery to past the terminal,

Mutually agreed between Buyer & Seller

Pick up ready

Excludes customs clearance

All costs after delivery from past the terminal

Mutually agreed between Buyer & Seller

Includes customs clearance

DDP

 

Delivered

Duty

Paid

All costs up to delivery to past the mutually agreed point between Buyer & Seller

Includes customs clearance, duties, VAT

All costs after point of delivery mutually agreed between Buyer & Seller

 

 

For the rest of the IncoTerms to cover all the transport modes, refer to our previous blog “IncoTerms Rules across the Scope of Buyer and Seller for Sea Freight Transactions” , or the following infographic.

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