INCOTERMS:

2019-12-11T00:13:00.000+05:30

These are the most prominent International comercial terms are mostly used in Export and Import of Goods

1. EX Works - In this process, Importer is liable to receive the goods from Exporter's place. All expenses will paid by Importer to Shipping his Goods.

2. FCA-(Free Carrier) - Exporter Deliver the goods only at port only tarnsportation cost paid by Exporter. All remain Expenses will paid by buyer to Shipping his goods.

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3. FAS- (Free Alongside Ship) - In this process, It is same as FCA, Exporter is liable to Deliver the goods only at Dock(Alongside Ship) during this process only Exporter will pay the Expenses. Rest of all Expense buyer will pay.

4. FOB-(Free on Board) - According to this Incoterms, Exporter deliver the Goods to loading only onto the vessel. Exporter will pay transportation cost, to Loading/unloading on ship cost only. Importer will pay all remain expenses.

5. CPT- (Carier Paid to) - During this Incoterms, Exporter deliver the goods to loading on ship and exporter will pay it's fob cost, Freight charges and unloading charges. Remain charges will paid by Importer.

6. CIP(Carrier Insurance Paid) - In this process, Exporter deliver the goods to loading onto ship. Exporter will pay Insurance charge, Fob cost and unloading charge. Other charges will paid by Importer.

7. CFR/CFS-(Cost and Freight) - In this process, Exporter deliver the goods to loading onto ship. Exporter will pay only FOB cost and Freight charge. Other charges will paid by Importer.

8. CIF(Cost Insurance and Freight) - In this process, Exporter deliver the goods to loading onto ship. Exporter will pay Fob cost, Insurance charge and Freight charge. Other charge will paid by Importer.

9. DDU-(Deliver duty unpaid) - In this process, Exporter deliver the goods to loading onto ship. Freight charge, FOB cost, Isurance charge and unloading charge will paid by Exporter. Importer will pay only custom clearing charge at his port.

10. DDP-(Deliver Duty paid) - In this incoterm
Exporter is liable to pay all the charges from point of production to point of consumption(exporter will pay Fob cost, insurance cost, Freight charge, unloading charge and custom clearance.) Importer won't pay any charges at any cost.

11. DAF-(Deliver at Frontier)- In this Incoterms, Exporter deliver the goods by roadway only on Border. Importer is liable to carry the goods. Unloading charge and custom clearance charge will paid by Importer.

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EXIM Programme Knowledge

INCOTERMS: