International Sale: Incoterms

international sale lawyer

In operations International Sale routinely used "incoterms”. Their vital utility is to set the time and place that is transferred risks on the goods, payer and hires the transport, freight and insurance, customs and steps that you must perform each part.

Let us see what each:

EXW (Ex Works): The seller delivers the goods in their own establishment or another named place not cleared or perform load. The risk passes to the buyer at the time of collecting the goods.

FCA (Carrier Fre): The seller delivers the goods to the carrier that tells the buyer, at the agreed place.

FAS (Alogside Free Ship): The seller delivers the merchandise by laying off the ship at the port of embarkation agreed. From that point, the buyer bears all costs and risks. The seller must clear the goods for export customs.

FOB (Free on Board): The seller delivers the goods when it exceeds the ship's rail at the port of embarkation agreed. Since that time, the cost and risk of the purchaser are. The seller must clear the goods for export.

CFR (Cost and Freight): The seller delivers the goods to overcome this the ship's rail at the port of embarkation, but pays the costs and freight to the port of destination. The risk of loss and additional costs after charge are for the buyer. The seller is responsible for export clearance customs.

CIF (Cost, Insurance and Freight): Is similar to above, but also the seller must pay insurance for the risks of the goods during transport.

CPT (Carriage paid to): The seller delivers the goods when he places the carrier nominated by the buyer. From that point, is the buyer who bears the risk and expense.

CIP (Carriage and Insurance paid to): The seller delivers when the goods available to the carrier, but it must pay the transportation to the agreed destination. After delivery the buyer's risk, but the seller pays for the risk insurance of goods in transit.

DAT (Delivered at Terminal): The seller delivers the goods when it is downloaded and made available to the buyer in a terminal port or place of destination. It is the seller who bears the risks of transporting and unloading. From that point, costs and risks are borne by the buyer.

DAP (Delivered at Place): The seller delivers when the goods available to the buyer, ready to be discharged by this. The seller bears the risk and expense to this place, but import costs are borne by the buyer.

DDP (Delivered Duty Paid): The seller delivers goods cleared for import but not be discharged on arrival at destination.

Efforts to facilitate international trade, addition of Incoterms, have been reflected in the UN Convention on Contracts for the International Sale of Vienna 11 April 1980, but this issue will be the subject of another post.

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