Companies increasingly take advantage of the globalised market. In such a context, a perfect comprehension of Incoterms 2020 is needed.
EXW shipping implies that all obligations are the responsibility of the buyer, these responsibilities are transferred to the buyer / recipient at the outset of the transportation.
The seller transfers the goods to the buyer at the selected location.
The buyer organises the whole transport from the loading location, including the main transport, and assumes all risks from the moment when he accepts the goods from the seller. Includes export customs clearance.
With Free Carrier (FCA), Free Alongside Ship (FAS) and Free On Board (FOB), the main transport is not paid by the seller and the goods are transferred in a place agreed by the parties, in the country of the seller.
The seller clears the shipment for export customs, at a pre-defined location.
The buyer is responsible for concluding the main transportation contract, as well as for the choice of a carrier or broker, and controls and bears the freight costs.
The buyer is also responsible for the payment of taxes and customs import duties.
In this group of Incoterms - CPT, CIP, Cost & Freight (CFR) and Cost, Insurance and Freight (CIF), the main transport is paid by the seller, but the risks are transferred when the goods are delivered to the first carrier. Two of these terms oblige the seller to insure the goods in favour of the buyer.
The seller is responsible for concluding the main transportation contract, as well as for the choice of a freight-forwarding agent, carrier, or broker, and supervises and bears the transport costs. The seller organises the delivery of the goods in the loading location for the main transport, where the risks are also transferred to the buyer, and is also responsible for export customs clearance.
The buyer assumes the risk of damage or loss of the cargo during the main transport but depends on the seller to provide correct information on the main transport. The buyer is responsible for import customs clearance.
Normally referred to as the "full delivery" group, it includes Delivered at Place Unloaded (DPU), Delivered at Place (DAP) and DDP.
Most costs and obligations are assumed by the seller and transferred to the buyer when the latter receives the goods in the country of destination.
The seller is responsible for the main transport, for the choice of the freight-forwarding agent or carrier and broker, and for the monitoring of the freight costs. The seller will also organise the delivery of the goods in the loading location for the main transport, where the risks will be transferred to the buyer. The seller is also responsible for the export customs clearance, as well as for import customs clearance in the case of DDP.
The buyer is responsible for the unloading of its cargo at the place of transfer of the goods (except with DPU).
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