Easy reference guide to International Incoterms
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1 Easy reference guide to International Incoterms FAS FOB CFR CIF EXW FCA Free alongside ship Free on board Cost & freight Cost, insurance & freight Ex works Free carrier Packing costs Seller Seller Seller Seller Seller Seller Export documentation Seller Seller Seller Seller Seller Seller load & deliver to place of shipment Seller Seller Seller Seller Buyer Seller Export customs clearance Seller Seller Seller Seller Buyer Buyer contract of carriage and freight Buyer Buyer Seller Seller Buyer Buyer Transport document (BL) Buyer Buyer Seller Seller Buyer Buyer contract of insurance Buyer Buyer Buyer Seller Buyer Buyer loading charges (wharf/airport) Buyer Buyer Seller Seller Buyer Buyer freight Buyer Buyer Seller Seller Buyer Buyer unloading charges (wharf/airport) Buyer Buyer Seller Seller Buyer Buyer Sellers First alongside loaded on premises Deliver at & risk transfer carrier (not ship board destination destination (not departure port port loaded) Import customs & clearance Buyer Buyer Buyer Buyer Buyer Buyer Import duties and taxes Buyer Buyer Buyer Buyer Buyer Buyer Delivery to destination Buyer Buyer Buyer Buyer Buyer Buyer CPT CIP DAT DAP DDP carriage paid to carriage & insurance paid to Delivered at terminal delivered at place Delivered duty paid Packing costs Seller seller seller seller seller Export documentation seller seller seller seller seller load & deliver to place of shipment seller seller seller seller seller Export customs clearance seller seller seller seller seller contract of carriage and freight seller seller seller seller seller Transport document (BL) seller seller seller seller seller contract of insurance buyer seller seller seller seller loading charges (wharf/airport) seller seller seller seller seller freight seller seller seller seller seller unloading charges (wharf/airport) seller seller seller seller seller Deliver at & risk transfer first carrier first carrier terminal ( place (not place (not Import customs & clearance buyer buyer buyer buyer seller Import duties and taxes buyer buyer buyer buyer seller Delivery to destination buyer seller seller seller A guide to be used in conjunction with International Chamber of Commerce Incoterms
2 EXW FCA CPT CIP DAT DAP DDP Carriage Delivery ex Free carriage & Delivery Delivery at works carrier paid to Insurance at place Duty Paid terminal Paid to Packing costs Seller Seller Seller Seller Seller Seller Seller Export documentation Seller Seller Seller Seller Seller Seller Seller loading & delivery to place of shipment Buyer Seller Seller Seller Seller Seller Seller Export customs clearance Buyer Seller Seller Seller Seller Seller Seller contract of carriage and freight Buyer Buyer Seller Seller Seller Seller Seller Transport document (BL) Buyer Buyer Seller Seller Seller Seller Seller contract of insurance Buyer Buyer Buyer Seller Seller Seller Seller loading charges (wharf/airport) Buyer Buyer Seller Seller Seller Seller Seller freight Buyer Buyer Seller Seller Seller Seller Seller unloading charges (wharf/airport) Buyer Buyer Buyer Buyer Seller Seller Seller Import customs & clearance Buyer Buyer Buyer Buyer Buyer Buyer Seller Import duties and taxes Buyer Buyer Buyer Buyer Buyer Buyer Seller Delivery to destination Buyer Buyer Buyer Buyer Buyer Seller Seller Incoterms are a set of acronyms and terms following international rules for standard trade terms as established by the International Chamber of Commerce in order to avoid confusion Commonly used Incoterms BAF bunker adjustment factor that adjust freight to reflect current fuel costs B/L Bill of lading acts as a receipt for the cargo and contains terms of carriage and is a document of title to the goods CAF currency adjustment factor. Adjusts freight to reflect fluctuations according to shipping company rates CFR - Cost and freight CFS container freight station CIF - Cost, insurance and freight CIP - Carriage and insurance paid to CNEE consignee (the party to whom a consignment is despatched) CNOR Consignor (the sender of the goods)
3 COD full payment of goods on delivery CPT - Carriage paid to CY Container yard DAF - Delivered at frontier DAFF dept of agriculture, fisheries and forestry DDP - Delivered duty paid DDU - Delivered duty unpaid DEQ - Delivery ex quay DES - Delivery ex ship D/O Delivery Order document authorising a third party to take delivery of goods on surrender of the original Bill of Lading ETA Estimated time of ship s arrival ETD Estimated time of ships departure EXW - Ex works FAK Freight all kinds (mixed shipments for different consignees) FAS - Free alongside ship FCA - Free carrier FCL full container load FCX full container shipments for one consignee from multiple suppliers FOB - Free on board Vessel GST Goods & services tax (10% of the CIF amount plus duty) HBL House Bill of Lading. Issued by a freight forwarder covering a single shipment containing details and specifics of the goods shipped L/C letter of credit documenting terms of credit transactions LCL less than container load L/I letter of indemnity if an original bill of lading becomes delayed or lost, allows delivery of goods to take place PSC port service charge RO/RO roll on roll off. Vessel whereby goods can be driven on and off SOB Shipped on board and endorsement on Bill of Lading confirming the goods have been loaded on board TEU-Twenty foot equivalent unit ie 1x20ft = 1 TEU THC terminal handling charge Packing List document required by buyer and customs indicating contents of each package being shipped Packing Declaration required by DAFF stating how shipment has been packed regarding timber, straw and bark Routing order document given to a supplier to instruct which logistics agent cargo is
4 to be routed through in country of origin REEFER refrigerated container Shipper the person that tenders the goods for carriage (supplier) Short Shipped goods not carried on the intended vessel Slot the space on a vessel occupied by a container. Time slot time booked to deliver a container to the wharf Tare Weight weight of the empty container Tariff the terms, conditions and scale of charges for carriage Demurrage charge incurred for cargo containers or trailers detained for longer than provided for in the tariff Freight the cost of the carriage of goods Transship when cargo is discharged from one ship to another in order to reach a port of no direct service or as a cheaper option to the direct service Waybill A bill of lading that acts as a receipt for the goods and evidence of the contract for carriage but is not a document. Under a waybill delivery can take place to a nominated consignee upon proof of identity. It is a personal contract between the shipper and carrier only Please find the above as a general guide only For more information on any Customs and Border Protection matter, contact the Customs Information and Support Centre on or browse the website
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