FOB: FOB (Free On Board) is a term in international
commercial law specifying at what point respective obligations, costs, and risk
involved in the delivery of goods shift from the seller to the buyer. ... In
international trade, ownership of the cargo is defined by the bill of lading or
waybill.
CFR: Cost and Freight (CFR) is a legal term used in
international trade. In a contract specifying that a sale is made CFR, the
seller is required to arrange for the carriage of goods by sea to a port of
destination and provide the buyer with the documents necessary to obtain the
goods from the carrier.
CIF: Cost, insurance and freight (CIF) is a trade term
requiring the seller to arrange for the carriage of goods by sea to a port of
destination, and provide the buyer with the documents necessary to obtain the
goods from the carrier.
EXW: (EX WORKS ) The ICC has set aside Incoterms rules for inland
waterway and sea transport, such as free on board (FOB) and cost, insurance and
freight (CIF). ... The buyer or seller may assume all the risks and
transportation costs, depending on whether the goods are sold under FOB
shipping point or FOB destination point.
CIP: Carriage and insurance paid to (CIP) is a commercial
term indicating that the seller delivers the goods to a carrier or to another
person nominated by the seller, at a place mutually agreed upon by the buyer
and seller, and that the seller pays the freight and insurance charges to
transport the goods to the specified ...
DDP: Delivered
Duty Paid (named place of destination) Seller is responsible for delivering the
goods to the named place in the country of the buyer, and pays all costs in
bringing the goods to the destination including import duties and taxes. The
seller is not responsible for unloading.
DDU: DDU is an international trade where the seller is responsible
for making a safe delivery of goods to a named destination, paying all
transportation expenses and assuming all risks during transportation except for
the duty once it arrives to port.
Express
Delivery: Express mail. ... Express mail is an accelerated
mail delivery service for which the customer pays a surcharge and receives
faster delivery. Express mail is a service for domestic and international mail
and is in most countries governed by a country's own postal administration.
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Labels: CFR, CIF, CIP, DDP, DDU, Express Delivery, EXW, FOB, Import-Export
