Incoterms 2000

THE TRADE TERMS OF THE INTERNATIONALCHAMBER OF COMMERCEWHAT IS ATRADE TERM?A trade term is a combination of letters or words, which specifies certain obligations within thesales contract.WHAT OBLIGATIONSDOES A TRADE TERMSPECIFY?The trade term specifies the1. Transfer of risk- when the seller has the right to claim for thecontract price even if the goods are lost,damaged or short-delivered.3. Division of costs- how the normal costs relating to the exportand import of goods should be dividedbetween the seller and the buyer.2. Transfer of obligations- where and how the seller must make the goodsavailable to the buyer and how the buyer musttake delivery of the goods.WHAT AREINCOTERMS?TRADE TERMS ANDNAMED POINT OFDELIVERYTRADE TERMS ANDMODE OF TRANSPORTINCOTERMS are a set of international rules for theinterpretation of the 13 trade terms published by theInternational Chamber of Commerce (ICC).After the chosen trade term one should state- the named point where the costs transfer and- "...Incoterms 2000"The use of trade terms in connection with differentmodes of transport in the export and import ofgoods is described below.Responsibilities are simply and clearly definedby referring to one of the ICC INCOTERMS.Thus the risk of misunderstanding andsubsequent disputes is eliminated.For instance "CIF Hamburg Incoterms 2000".+ = recommended- = not recommendedTRADE TERMEXWFCAFASFOBCFRCIFCPTCIPDAFDESDEQDDUDDPMODE OF TRANSPORTSea Road Rail Air ContainerCombinedtransportTRADE TERMS ANDCARGO INSURANCEThe need for cargo insurance follows the risk ofloss or damage, i.e. each party arranges forinsurance for the part of the carriage when thegoods are at his risk.According to the terms CIF and CIPthe seller must arrange cargo insurancein favour of the buyer.This brochure is our summary of the contents of the trade terms.

DEPOT CUSTOMS CUSTOMSIMPORT LTDEXWTHE GOODS HAVE BEEN PLACED AT THE DISPOSAL OF THE BUYERFCATHE GOODS HAVE BEEN DELIVERED TO THE CARRIERFASDELIVERED ALONGSIDE THE SHIPFOBTHE GOODS HAVE PASSED THE SHIP'S RAILCFRTHE GOODS HAVE PASSED THE SHIP'S RAILCIFTHE GOODS HAVE PASSED THE SHIP'S RAILCPTTHE GOODS HAVE BEEN DELIVERED TO THE CARRIERCIPTHE GOODS HAVE BEEN DELIVERED TO THE CARRIERDAFDESTHE GOODS HAVE BEEN PLACED AT THE DISPOSAL OF THE BUYERON THE MEANS OF TRANSPORT AT THE NAMED FRONTIERREADY FOR UNLOADING AT NAMED PORT OF DESTINATIONDEQDELIVERED ON THE QUAY AT NAMED PORT OF DESTINATIONDDUPLACED AT THE DISPOSAL OF THE BUYER ON ANY ARRIVING MEANS OF TRANSPORT DUTY UNPAIDDDPPLACED AT THE DISPOSAL OF THE BUYER DUTY PAID AND NOT UNLOADED AT THE NAMED PLACE OF DESTINATIONLEGEND= THE RISK OF LOSS TRANSFERS(THE NEED FOR INSURANCE)= THE MAIN OBLIGATIONS TRANSFER = THE BURDEN OF COSTS TRANSFERS- ACCORDING TO AN E-TERM, THE SELLER PLACES THE GOODS AT THE DISPOSAL OF THE BUYER- ACCORDING TO A F-TERM, THE SELLER DELIVERS THE GOODS TO THE CARRIER NAMED BY THE BUYER- ACCORDING TO A C-TERM, THE SELLER CONTRACTS FOR CARRIAGE AND DELIVERS THE GOODS INTO THE CUSTODY OF THE CARRIER- ACCORDING TO A D-TERM, THE SELLER CONTRACTS FOR CARRIAGE AND DELIVERS THE GOODS AT THE NAMED PLACE OF DESTINATION

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