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Incoterms 2010 - Introduction and Presentation

This document provides an overview of Incoterms 2010, which are a set of international commercial terms published by the International Chamber of Commerce for the interpretation of trade terms in contracts of sale. It outlines the obligations of buyers and sellers under different trade terms, including EXW, FCA, CPT, CIP, DAT, DAP, DDP, FAS, FOB, CFR, and CIF. For each term, it describes where risks and costs are transferred between the buyer and seller under contracts using that term. The document is marked as only for internal use within an organization.

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Alfred Duret
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© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
112 views

Incoterms 2010 - Introduction and Presentation

This document provides an overview of Incoterms 2010, which are a set of international commercial terms published by the International Chamber of Commerce for the interpretation of trade terms in contracts of sale. It outlines the obligations of buyers and sellers under different trade terms, including EXW, FCA, CPT, CIP, DAT, DAP, DDP, FAS, FOB, CFR, and CIF. For each term, it describes where risks and costs are transferred between the buyer and seller under contracts using that term. The document is marked as only for internal use within an organization.

Uploaded by

Alfred Duret
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
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Incoterms 2010

By the International Chamber of Commerce (ICC)

Only for Internal use

Obligations
The sellers obligations
A1 General obligations of the seller A2 Licences, authorizations, security clearances and other formalities A3 Contracts of carriage and insurance A4 Delivery A5 Transfer of risks A6 Allocation of costs

The buyers obligation


B1 General obligations of the buyer B2 Licenses, authorizations, security clearances and other formalities B3 Contracts of carriage and insurance B4 Taking delivery B5 Transfer of risks B6 Allocation of costs

Only for Internal use

Obligations

The sellers obligations


A7 Notices to the buyer A8 Delivery document A9 Checking packaging marking A10 Assistance with information and related costs

The buyers obligation


B7 Notices to the seller B8 Proof of delivery B9 Inspection of goods B10 Assistance with information and related costs

Only for Internal use

Rules for any mode or modes of transport

EXW Ex Work (insert named place of delivery) Incoterms 2010 FCA Free Carrier (insert named place of delivery) Incoterms 2010 CPT Carriage Paid To (insert named place of destination) Incoterms 2010 CIP
Carriage and Insurance Paid to (insert named place of destination)
Incoterms 2010

DAT Delivered At Terminal (insert named terminal at port or place of


destination) Incoterms 2010

DAP Delivered At Place (insert named place of destination) Incoterms 2010 DDP Delivered Duty Paid (insert named place of destination) Incoterms 2010

Only for Internal use

Incoterms 2010

EXW Ex works

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DELIVERY

Delivery

EXW represents the minimum obligation for seller.


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Incoterms 2010

FCA Free Carrier

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DELIVERY
Pick-up Delivery

FCA requires the seller to clear the goods for export.


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Incoterms 2010

CPT Carriage Paid To

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Pick-up Delivery

CPT has two critical points, because risk passes and costs are transferred at different places.
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Incoterms 2010

CIP Carriage and Insurance Paid to

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Pick-up Delivery

Under CIP seller is required to obtain insurance only on minimum cover.


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Incoterms 2010

DAT Delivered At Terminal

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Important to specify as clearly as possible the terminal and, if possible, a specific point within the terminal at the agreed port or place of destination, as the risks to that point are for account of the seller.
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Incoterms 2010

DAP Delivered At Place

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Delivery

DAP means that seller delivers when goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading.
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Incoterms 2010

DDP Delivered Duty Paid

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DAP represents the maximum obligation for the seller.


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Rules for sea and inland waterway transport

FAS Free Alongside Ship (insert named port of


shipment) Incoterms 2010

FOB Free On Board (insert named port of


shipment) Incoterms 2010

CFR Cost and Freight (insert named port of


destination) Incoterms 2010

CIF

Cost Insurance and Freight (insert named port of destination) Incoterms 2010

Only for Internal use

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Incoterms 2010

FAS Free Alongside Ship

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Pick-up

Where goods are in containers, it is typical for the seller to hand the goods over to the carrier at the terminal and not alongside ship. In such situations, FAS would be inappropriate, and FCA should be used.

Delivery

Only for Internal use

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Incoterms 2010

FOB Free on Board

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The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment onwards.

Delivery

Only for Internal use

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Incoterms 2010

CFR Cost and Freight

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The risk passes when goods are on board the vessel, but seller must pay the costs and freight necessary to bring the goods to the named port of destination.

Delivery

Only for Internal use

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Incoterms 2010

CIF Cost Insurance and Freight

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If the seller incurs costs under its contract of carriage related to unloading at the specified point at the port of destination, the seller is not entitled to recover such costs from buyer unless otherwise agreed between the parties.
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Only for Internal use

Thank you for your attendance


www.geodiswilson.com

Only for Internal use

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