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Incoterms 1990 - INternational COmmercial TERMS

Four basic groups

E-terms
F-terms
C-terms
D-terms

Incoterms 1990, "mirrored" correlative obligations of buyer and seller. Grouped under the following 10 heads.

The 13 Incoterms

Group E: Departure term.
EXW - EX WORKS (... named place)
Group F: Shipment terms - Main carriage unpaid.
FCA - FREE CARRIER (... named place)
FAS - FREE ALONGSIDE SHIP (... named port of shipment)
FOB - FREE ON BOARD (... named port of shipment)
Group C: Shipment terms - Main carriage paid.
CFR - COST AND FREIGHT (... named port of destination)
CIF - COST, INSURANCE AND FREIGHT (... named port of destination)
CPT - CARRIAGE PAID TO (... named place of destination)
CIP - CARRIAGE AND INSURANCE PAID TO (... named place of destination)
Group D: Arrival Terms.
DAF - DELIVERED AT FRONTIER (... named place)
DES - DELIVERED EX SHIP (... named port of destination)
DEQ - DELIVERED EX QUAY (DUTY PAID) (... named port of destination)
DDU - DELIVERED DUTY UNPAID (... named place of destination)
DDP - DELIVERED Duty PAID (... named place of destination)

Mode of Transport and the Appropriate Incoterm 1990

Suitable for Any Mode of Transport including Multimodal:
Suitable for Air Transport:
Suitable for Rail Transport:

Obtaining Incoterms

Metadata

SiSU Metadata, document information

Manifest

SiSU Manifest, alternative outputs etc.

Incoterms 1990

[superseded, current Incoterms is Incoterms 2000]

International Chamber of Commerce (ICC)

copy @ Lex Mercatoria

Incoterms 1990 - INternational COmmercial TERMS

Four basic groups

Incoterms 1990 are divided into four basic groups.

Trade Terms defined by Incoterms:

E-terms

Group E: Departure term. Where the seller makes the goods available to the buyer at the seller's own premises, (EXW).

EXW - Ex Works

F-terms

Group F: Shipment terms - Main carriage unpaid. Where the seller is called on to deliver the goods to a carrier named by the buyer, (FCA, FAS and FOB). These are shipment contracts with the shipment point named, and carriage unpaid by the seller.

FCA - Free Carrier

FAS - Free Alongside Ship

FOB - Free On Board

C-terms

Group C: Shipment terms - Main carriage paid. Where the seller has to contract for carriage, but without assuming the risk of loss of or damage to the goods or additional costs due to events occurring after shipment and dispatch, (CFR, CIF, CPT and CIP). These are shipment contracts with the destination point named, and carriage paid by the seller. There are two critical division points, one for the division of costs, the other for the division of risk. Costs being assumed by the seller until the destination point; risk being transferred to the buyer at the point of shipment. CIF and CIP are the only Incoterms related directly to insurance cover. In these the seller arranges the contract of carriage and payment of freight and is regarded as being in a better position than the buyer to arrange insurance.

CFR - Cost and Freight

CIF - Cost, Insurance and Freight

CPT - Carriage Paid To

CIP - Carriage and Insurance Paid To

D-terms

Group D: Arrival Terms. Where the seller has to bear all costs and risk needed to bring the goods to the country of destination, (DAF, DES, DEQ, DDU and DDP). These are arrival contracts.

DAF - Delivered At Frontier

DES - Delivered Ex Ship

DEQ - Delivered Ex Quay

DDU - Delivered Duty Unpaid

DDP - Delivered Duty Paid


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