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The International Chamber of Commerce (ICC) provides a detailed description of commonly used terms of sale. They are provided here for your easy reference.
For more information, please refer to incoterms.org.
Incoterms is a registred trademark of the International Chamber of Commerce
Ex works represents minimum obligation of the seller.
Designed to meet the requirements of multimodal transport, such as container or roll-on, roll-off traffic by trailers and ferries.
Requires buyer to clear goods for export and pay cost of loading.
Goods are placed on board ship by the seller at a port of shipment named in sales agreement.
Requires the seller to pay the costs and freight necessary to bring the goods to the named destination.
The seller procures transport insurance against the risk of loss or damage to goods.
The seller pays freight for the carriage of goods to named destination.
The seller procures transport insurance against the risk of loss or damage to goods during the carriage.
The seller's obligations are fulfilled when goods have arrived at the frontier but before the customs border of the country named in the sales contract.
The seller shall make goods available to the buyer on board the ship.
The seller has agreed to make goods available to the buyer on the quay or the wharf at destination.
The seller bears all costs and risks involved in bringing goods to the point or place of named destination.
Represents the seller's maximum obligation..