Incoterms 2000

1. Incoterms - short for "International Commercial Terms" - are standard trade definitions, devised and published by the International Chamber of Commerce, and most commonly used in international sales contracts.
   
   
   
2. The description of the 13 Incoterms below is only meant as an overview. The onus is on the buyer to assure themselves of the exact and complete definition of their requested ICC Incoterm describing the payment and delivery terms to be included in the Sales & Purchase Contract.
   
   
   
3. The inclusion of the ICC INCOTERM to contractually describe the payment and delivery terms must be stated in the following format : “incoterm, name port, name country: ICC Incoterms 2000”

 

Term	Description	Place of Transfer
EXW	Ex-Works	(...named place) ·   Carriage to be arranged by the buyer. ·   Risk transfer from the seller to the buyer when the goods are at      the disposal of the buyer. ·   Cost transfer from the seller to the buyer when the goods are at      the disposal of the buyer.
FCA	Free-Carrier	(...named place) ·   Carriage to be arranged by the buyer, or the seller on the buyer’s      behalf. ·   Risk transfer from the seller to the buyer when the goods have      been delivered to the carrier at the named place. ·   Cost transfer from the seller to the buyer when the goods have      been delivered to the carrier at the named place.
FAS	Free Alongside   Ship	(...named port of shipment) ·   Carriage to be arranged by the buyer. ·   Risk transfer from the seller to the buyer when the goods have      been placed alongside the ship. ·   Cost transfer from the seller to the buyer when the goods have      been delivered to the carrier at the named place.
FOB	Free On Board	(...named port of shipment) ·   Carriage to be arranged by the buyer. ·   Risk transfer from the seller to the buyer when the goods pass      the ship’s rail. ·   Cost transfer from the seller to the buyer when the goods pass      the ship’s rail.
CFR	Cost & Freight	(...named port of destination) ·   Carriage to be arranged by the seller. ·   Risk transfer  from the seller to the buyer when the goods pass      the ship’s rail. ·   Cost transfer at the port of destination, with the buyer paying the      costs not for the seller’s account under the contract of carriage.
CIF	Cost, Insurance  and  Freight	(...named port of destination) ·   Carriage and Insurance to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods pass      the ship’s rail. ·   Cost transfer at the port of destination, with the buyer paying      the costs not for the seller’s account under the contract of      carriage.
CPT	Carriage Paid To	(...named place of destination) ·   Carriage to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods have     been delivered to the carrier. ·   Cost transfer at the port of destination, with the buyer paying the     costs not for the seller’s account under the contract of carriage.
CIP	Carriage, Insurance Paid To	(...named place of destination) ·   Carriage and Insurance to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods have     been delivered to the carrier. ·   Cost transfer at the port of destination, with the buyer paying the     costs not for the seller’s account under the contract of carriage.
DAF	Delivered At  Frontier	(...named place) ·   Carriage to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods have     been delivered at the frontier. ·   Cost transfer from the seller to the buyer when the goods have     been delivered at the frontier.
DES	Delivered Ex-Ship	(...named port of destination) ·   Carriage to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods have     been placed at the disposal of the buyer on board the ship. ·   Cost transfer from the seller to the buyer when the goods have     been placed at the disposal of the buyer on board the ship.
DEQ	Delivered Ex-  Quay	(...named port of destination) ·   Carriage to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods have     been placed at the disposal of the buyer on the quay. ·   Cost transfer from the seller to the buyer when the goods have     been placed at the disposal of the buyer on the quay.
DDU	Delivered Duty  Unpaid	(...named place of destination) ·   Carriage to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods are     placed at the disposal of the buyer, with Duty unpaid. ·   Cost transfer from the seller to the buyer when the goods are     placed at the disposal of the buyer, with Duty unpaid.
DDP	Delivered Duty  Paid	(...named place of destination) ·   Carriage to be arranged by the seller. ·   Risk transfer from the seller to the buyer when the goods are     placed at the disposal of the buyer, with Duty paid. ·   Cost transfer from the seller to the buyer when the goods are     placed at the disposal of the buyer, with Duty paid.

Delphi.2000