The seller provides the goods at the agreed location; Extensive loading, export and transportation responsibilities may remain with the buyer.
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Incoterms® Selection Assistant 2020
Narrow the rules for verification based on the planned responsibilities of the parties for transportation, risk, insurance, unloading and import.
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Incoterms® 2020
Brief map of 11 rules
Any type of transport
The seller formalizes the export and transfers the goods to the buyer's carrier at the agreed location.
The seller pays for carriage to the named place, but the risk passes when the goods are handed over to the first carrier.
In addition to the CPT distribution, the seller arranges cargo insurance for the buyer's benefit.
The seller delivers the goods to the destination on arriving transport ready for unloading; Import and unloading are usually on the buyer.
The seller delivers and unloads the goods at the named place; Import clearance is carried out by the buyer.
The seller provides the goods at the destination after import clearance and payment of duties; his responsibilities are the most extensive.
Sea and inland waterways only
The seller delivers the goods alongside the ship at the named port of departure.
The seller delivers the goods on board the vessel at the named port of departure.
The seller pays sea freight to the port of destination and the risk passes on board at the port of departure.
In addition to the CFR distribution, the seller will arrange marine insurance for the benefit of the buyer.
FAQ
Questions about choosing Incoterms®
Does Incoterms® define a transfer of ownership?
No. The rules mainly describe responsibilities, costs and risks; ownership and payment terms are separately stated in the contract.
Do CIF and CIP require the same coverage?
No. In Incoterms® 2020, the standard level of coverage for CIP is wider than for CIF; Please check your policy for actual coverage.
Is it enough to enter only three letters?
No. The exact place or port, edition of the rules and the necessary additional terms of the contract should be indicated.
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