Incoterms

Incoterms are useful for companies involved in international freight transactions. These incoterms are used to determine risks and responsibilities between buyers and sellers and are defined as follow:
EXW (Ex Works): Is when the buyer assumes all costs and risks involved in taking the goods from the seller’s to the destination. The seller's requirement is to make the goods available at his locations (works, factory, and warehouse). This term represents minimum obligation for the seller. This term can be used across all modes of transport. FCA (Free Carrier): The seller's obligation is to hand over the goods, cleared for export, into the charge of the carrier named by the buyer at the named place or point. If no precise point is indicated by the buyer, the seller may choose within the place or range stipulated where the carrier should take the goods into his charge. When the seller's assistance is required in making the contract with the carrier the seller may act at the buyers risk and expense. This term can be also used across all modes of transport.
CPT (Carriage Paid To): The seller pays the shipping for the carriage of goods to the named destination. The risk of loss or damage to the goods occurring after the delivery has been made to the carrier is transferred from the seller to the buyer. This term requires the seller to clear the goods for export and can be used across all modes of transport. CIP (Carriage & insurance Paid to): In this incoterm the seller has the same obligations as under CPT but has the responsibility of obtaining insurance against the buyer's risk of loss or damage of goods during the carriage. The seller is required to clear the goods for export however is only required to obtain insurance on minimum coverage.

DAT (Delivered at Terminal): this incoterm can also be used for all transport modes. Here the seller is responsible for the costs and risks to bring the goods to the point specified in the contract. Seller