Incoterms
INCOTERMS 2010 -Summary
The INCOTERMS (International Commercial Terms) are international trade terms developed by the International Chamber of Commerce (ICC) with the objective to eliminate uncertainty of intent and obligation as to shipments between importers and exporters.
1. EXW {+ the named place}
Ex Works
Ex means from. Works means factory, mill or warehouse, which are the seller’s premises. EXW applies to goods available only at the seller's premises.
Buyer is responsible for loading the goods on truck or container at the seller's premises, and for the subsequent costs and risks.
In practice, it is not uncommon that the seller loads the goods on truck or container at the seller's premises without charging loading fee.
In the quotation, indicate the named place (seller's premises) after the acronym EXW, for example EXW Kobe and EXW San Antonio.
The term EXW is commonly used between the manufacturer (seller) and export-trader (buyer), and the export-trader resells on other trade terms to the foreign buyers. Some manufacturers may use the term Ex Factory, which means the same as Ex Works.
SELLER’S RESPONSIBILITIES
Make goods available at the factory or depot for collecting by the buyer
BUYER’S RESPONSIBILITIES
Load goods onto a vehicle.
Transport the goods to their destination
Arrange all export and import procedures ( all documents)
Arrange insurance for the goods
RISK TRANSFER
All risk is with the buyer once the goods have been made available.
2. FCA {+ the named point of departure}
Free Carrier
The delivery of goods on truck, rail car or container at the specified point (depot) of departure, which is usually the seller's premises, or a named railroad station or a named cargo terminal or into the custody of the carrier, at seller's expense. The point (depot) at origin may or may not be a customs clearance centre.
Buyer is responsible for the main carriage/freight, cargo insurance and other costs and risks.
In
The INCOTERMS (International Commercial Terms) are international trade terms developed by the International Chamber of Commerce (ICC) with the objective to eliminate uncertainty of intent and obligation as to shipments between importers and exporters.
1. EXW {+ the named place}
Ex Works
Ex means from. Works means factory, mill or warehouse, which are the seller’s premises. EXW applies to goods available only at the seller's premises.
Buyer is responsible for loading the goods on truck or container at the seller's premises, and for the subsequent costs and risks.
In practice, it is not uncommon that the seller loads the goods on truck or container at the seller's premises without charging loading fee.
In the quotation, indicate the named place (seller's premises) after the acronym EXW, for example EXW Kobe and EXW San Antonio.
The term EXW is commonly used between the manufacturer (seller) and export-trader (buyer), and the export-trader resells on other trade terms to the foreign buyers. Some manufacturers may use the term Ex Factory, which means the same as Ex Works.
SELLER’S RESPONSIBILITIES
Make goods available at the factory or depot for collecting by the buyer
BUYER’S RESPONSIBILITIES
Load goods onto a vehicle.
Transport the goods to their destination
Arrange all export and import procedures ( all documents)
Arrange insurance for the goods
RISK TRANSFER
All risk is with the buyer once the goods have been made available.
2. FCA {+ the named point of departure}
Free Carrier
The delivery of goods on truck, rail car or container at the specified point (depot) of departure, which is usually the seller's premises, or a named railroad station or a named cargo terminal or into the custody of the carrier, at seller's expense. The point (depot) at origin may or may not be a customs clearance centre.
Buyer is responsible for the main carriage/freight, cargo insurance and other costs and risks.
In