Incoterms: International Trade and Paid by Seller

Topics: International trade, Commercial item transport and distribution, Contract Pages: 16 (4771 words) Published: September 12, 2010
Legal Aspects in Management

Project Report

------------------------------------------------------------------------ Submitted to:
Prof C.L. Bansal

Submitted By:
Group No. 9 | Section F
Anunay Bhargava| PGP 26328|
Arnab Chowdhury| PGP 26329|
Chinmay Desai| PGP 26334|
Devendra Singh| PGP 26337|
Gaurav Bhuwania| PGP 26341|
Saurabh Yadav| PGP 26365|
Srivalson Nair| PGP 26371|
| |

Date of Submission:
10th September 2010
Table of Contents

The ‘E’ Term (no obligation for the seller)5
Responsibility Chart5
EXW – Ex Works, named place6
The ‘F’ Terms (Main Carriage Not Paid By Seller)7
FCA (Free Carrier)7
FAS - Free Alongside Ship,8
FOB - Free On Board8
Important Judgements9
The ‘C’ Terms (Main Carriage Paid By Seller)9
CIF – Cost, Insurance & Freight, named ocean port of destination10
CFR – Cost & Freight, named port of destination11
CPT - Carriage Paid To, named place of destination12
CIP - Carriage and Insurance Paid To, named place of destination12
The ‘D’ Terms (Arrival)13
DES – Delivered Ex Ship, named port of destination13
DEQ – Delivered Ex Quay, named port of destination14
DDU - Delivery Duty Unpaid, named place of destination14
DDP - Delivery Duty Paid, named place of destination15
INCOTERMS 2000 – A Summary17
EVALUATIONError! Bookmark not defined.

The ICC was founded in 1919 with an overriding aim to serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital. ICC is the voice of world business championing the global economy as a force for economic growth, job creation and prosperity. ICC activities cover a broad spectrum, from arbitration and dispute resolution to making the case for open trade and the market economy system, business self-regulation, fighting corruption or combating commercial crime. All the activities of the International Chamber of Commerce, whether of a policy or technical nature, aim: * To promote international trade, services and investment, while eliminating obstacles and distortions to international commerce * To promote a market economy system based on the principle of free and fair competition among business enterprises * To foster the economic growth of developed and developing countries alike, particularly with a view to better integrate all countries into the world economy ICC has direct access to national governments all over the world through its national committees. The organization's Paris-based international secretariat feeds business views into intergovernmental organizations on issues that directly affect business operations. The ICC has permanent observer status with the United Nations. The UN, the World Trade Organization, and many other intergovernmental bodies, both international and regional, are kept in touch with the views of international business through ICC. Member companies and business associations shape ICC's stance on any given business issue by participating in the work of ICC commissions. Commissions are the bedrock of ICC, composed of a total of more than 500 business experts who give freely of their time to formulate ICC policy and elaborate its rules. ICC makes policies in the following: * Anti-Corruption

* Arbitration
* Banking Technique and Practice
* Business in Society
* Commercial Practice
* Competition
* Customs and Trade Regulations
* E-business, IT and Telecoms
* Environment and Energy
* Financial Services and Insurance
* Intellectual Property
* Marketing and Advertising
* Taxation
* Trade and Investment Policy
* Transport and Logistics
ICC’s International...

References: *
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