Multiple international trading terms

Multiple international trading terms




EXW Incoterm (Ex Works)

The EXW Incoterm imposes only minimum obligations on the seller. More particularly, the seller is simply required to deliver the goods to the buyer at a named place of delivery which is usually the seller’s place of business, but can be any particular location such as a warehouse, factory, etc., and within the agreed time specified in the contract.














 

FOB Incoterm (Free on Board)

Under the FOB Incoterm, the goods are deemed to be delivered by the seller to the buyer when they are delivered on board the ship nominated by the buyer at the named port of shipment or the seller procures the goods so delivered.















 

CFR Incoterm (Cost and Freight)

According to the CFR Incoterm, the seller delivers the goods to the buyer by placing them on board the ship or procuring them so delivered.











 



CPT Incoterm (Carriage Paid to)

Under the CPT Incoterm, the delivery of the goods occurs when they are delivered by the seller to the carrier at the agreed place or are procured by the seller so delivered.















 

DAP Incoterm (Delivered at Place)

This Incoterm is normally used in cases when the parties do not wish that the seller bear the risk and cost of unloading, contrary to the DPU Incoterm (see below). Under the DAP Incoterm, the goods are deemed delivered by the seller to the buyer when they are put at the disposal of the buyer on the transportation vehicle ready for unloading at the place of destination or an agreed point within such place, if any.