Trans Hope Group Ltd

Incoterms 2020

COSTS
RISKS

EXW (Ex Works named place) – “Franco factory” is the name of the place.

The seller is obliged to: provide goods ready for shipment.
The buyer is obliged to: perform export and import customs clearance and deliver the goods.
The risks are transferred at the time of delivery of the goods to the seller’s warehouse.
The main difference is that the EXW delivery basis imposes minimal obligations on the seller.

FCA (Free Carrier named place) – “Franco carrier” indicated the name of the place.

The seller is obliged to: perform export customs clearance and ship the goods to the carrier designated by the buyer.
The buyer is obliged to: deliver the goods and perform import customs clearance.
The risks are transferred when the seller hands over the goods to the carrier.

CPT (Carriage Paid To named place of destination) – “Freight/carriage paid to” the name of the destination.

The seller is obliged to: perform export customs clearance and deliver the goods to the agreed destination.
The buyer is obliged to: unload the goods and perform import customs clearance.
The risks are transferred when the seller hands over the goods to the carrier.

CIP (Carriage and Insurance Paid to named place of destination) – “Freight/carriage and insurance paid to” specified destination name.

The seller is obliged to: perform export customs clearance, insure and deliver the goods to the agreed destination.
The buyer is obliged to: unload the goods and perform import customs clearance.
The risks are transferred when the seller hands over the goods to the carrier.

FAS (Free Alongside Ship named port of shipment) – “Free along the ship’s side” is the indicated port of shipment.

The seller is obliged to: perform export customs clearance and place the goods at the port of shipment along the ship specified by the buyer.
The buyer is obliged to: load the goods onto the ship and deliver them to the unloading port, as well as perform import customs clearance.
The risks are transferred to the port at the moment of placement of the goods along the ship’s side.

FOB (Free On Board named port of shipment) – “Free on board” is the indicated port of shipment.

The seller is obliged to: perform export customs clearance and place the goods at the port of shipment along the ship specified by the buyer.
The buyer is obliged to: load the goods onto the ship and deliver them to the unloading port, as well as perform import customs clearance.
The risks are transferred to the port at the moment of placement of the goods along the ship’s side.

CFR (Cost and Freight named port of destination) – “Cost and Freight” specified port of destination.

The seller is obliged to: perform export customs clearance, load the goods on board the vessel and deliver to the unloading port.
The buyer is obliged to: unload and accept the goods at the port of unloading, as well as perform import customs clearance.
Risks are transferred on board the vessel from full load.

CIF (Cost, Insurance and Freight named port of destination) – “Cost, Insurance and Freight” specified port of destination.

The seller is obliged to: perform export customs clearance, insure, load the goods on board the vessel and deliver to the unloading port.
The buyer is obliged to: unload and accept the goods at the port of unloading, as well as perform import customs clearance.
Risks are transferred on board the vessel from full load.

DAP (Delivered At Point named point of destination) – “Delivery at the point” indicates the name of the destination.

The seller is obliged to: perform export customs clearance and deliver the goods to the agreed destination.
The buyer is obliged to: unload the goods and perform import customs clearance.
Risks are transferred to the destination.

DPU (Delivered Named Place Unloaded named place of destination) – “Delivery to place of unloading” indicates the name of the destination.

The seller is obliged to: perform export customs clearance, deliver the goods to their destination and unload them.
The buyer is obliged to: accept the goods and perform import customs clearance.
Risks pass at the destination after full unloading.

DDP (Delivered Duty Paid named place of destination) – “Delivery with payment of duty” the name of the destination is indicated.

The seller is obliged to: perform export customs clearance, deliver the goods to the agreed destination and perform import customs clearance with payment of duties.
The buyer is obliged to: unload and accept the goods.
Risks are transferred at the destination.
The main difference is that the DDP supply basis imposes maximum obligations on the seller.

EXW – Ex Works named place

The seller is obliged to: provide goods ready for shipment.
The buyer is obliged to: perform export and import customs clearance and deliver the goods.
The risks are transferred at the time of delivery of the goods to the seller’s warehouse.
The main difference is that the EXW delivery basis imposes minimal obligations on the seller.

FCA – Free Carrier named place

The seller is obliged to: perform export customs clearance and ship the goods to the carrier designated by the buyer.
The buyer is obliged to: deliver the goods and perform import customs clearance.
The risks are transferred when the seller hands over the goods to the carrier.

CPT – Carriage Paid To

The seller is obliged to: perform export customs clearance and deliver the goods to the agreed destination.
The buyer is obliged to: unload the goods and perform import customs clearance.
The risks are transferred when the seller hands over the goods to the carrier.

CIP – Carriage and Insurance Paid to

The seller is obliged to: perform export customs clearance, insure and deliver the goods to the agreed destination.
The buyer is obliged to: unload the goods and perform import customs clearance.
The risks are transferred when the seller hands over the goods to the carrier.

FAS – Free Alongside Ship

The seller is obliged to: perform export customs clearance and place the goods at the port of shipment along the ship specified by the buyer.
The buyer is obliged to: load the goods onto the ship and deliver them to the unloading port, as well as perform import customs clearance.
The risks are transferred to the port at the moment of placement of the goods along the ship’s side.

FOB – Free On Board

The seller is obliged to: perform export customs clearance and place the goods at the port of shipment along the ship specified by the buyer.
The buyer is obliged to: load the goods onto the ship and deliver them to the unloading port, as well as perform import customs clearance.
The risks are transferred to the port at the moment of placement of the goods along the ship’s side.

CFR – Cost and Freight

The seller is obliged to: perform export customs clearance, load the goods on board the vessel and deliver to the unloading port.
The buyer is obliged to: unload and accept the goods at the port of unloading, as well as perform import customs clearance.
Risks are transferred on board the vessel from full load.

CIF – Cost, Insurance and Freight

The seller is obliged to: perform export customs clearance, insure, load the goods on board the vessel and deliver to the unloading port.
The buyer is obliged to: unload and accept the goods at the port of unloading, as well as perform import customs clearance.
Risks are transferred on board the vessel from full load.

DAP – Delivered At Point

The seller is obliged to: perform export customs clearance and deliver the goods to the agreed destination.
The buyer is obliged to: unload the goods and perform import customs clearance.
Risks are transferred to the destination.

DPU – Delivered Named Place Unloaded

The seller is obliged to: perform export customs clearance, deliver the goods to their destination and unload them.
The buyer is obliged to: accept the goods and perform import customs clearance.
Risks pass at the destination after full unloading.

DDP – Delivered Duty Paid

The seller is obliged to: perform export customs clearance, deliver the goods to the agreed destination and perform import customs clearance with payment of duties.
The buyer is obliged to: unload and accept the goods.
Risks are transferred at the destination.
The main difference is that the DDP supply basis imposes maximum obligations on the seller.