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  • Inco Terms

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    Nikhil Bhatnagar
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    The document outlines 12 common international commercial terms (INCOTERMS) that define the responsibilities of sellers and buyers with respect to the delivery of goods under sales contracts. The terms specify whether the seller or buyer is responsible for the costs of transportation, loading and unloading, insurance, and other expenses related to delivering goods from the seller to the buyer. INCOTERMS help clarify important details in international trade agreements.

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    The document outlines 12 common international commercial terms (INCOTERMS) that define the responsibilities of sellers and buyers with respect to the delivery of goods under sales contracts. The terms specify whether the seller or buyer is responsible for the costs of transportation, loading and unloading, insurance, and other expenses related to delivering goods from the seller to the buyer. INCOTERMS help clarify important details in international trade agreements.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd
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    Download as rtf, pdf, or txt
    11 views2 pages

    Inco Terms

    Uploaded by

    Nikhil Bhatnagar
    The document outlines 12 common international commercial terms (INCOTERMS) that define the responsibilities of sellers and buyers with respect to the delivery of goods under sales contracts. The terms specify whether the seller or buyer is responsible for the costs of transportation, loading and unloading, insurance, and other expenses related to delivering goods from the seller to the buyer. INCOTERMS help clarify important details in international trade agreements.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as rtf, pdf, or txt
    of 2

    INCO TERMS ( mode of

    pricing )

    1. ex-works - goods available at sellers factory / works 2. FCA - free carrier: sellers obligation till goods are delivered to a carrier: 3. FAS - free along side ship: goods placed along side the ship 4. FOB - free on board: goods pass the ships rail at the port: buyer to bear all costs/risk/loss/damage. 5. CFR - cost and frieght - seller has to pay the frieght and responsbile till the goods reach port of buyer. 6. CIF : cost - insurance- frieght: seller has to pay the cost of insraunce/for damage/loss during the carraige. 7. CPT - carriage paid to - seller must pay the cost of carraige to bring the goods to named destination. 8. CIP - carraige insuance paid to...seller has to pay for insurance also...similar to CPT 9. DAF: delivered at forntier- applicable for

    good carried by rail or road...seller to deliver till frontier (cusotms). 10.DES - delivered EX-ship - seller make goods available to buyer till port of destination - buyer to get import lic. 11.DEQ - delivered ex-Quay/wharf. after crossing the custom border... 12. DDU - delivered duty un-paid...duty payable by buyer. 13. DDP - delivered duty paid: seller to deliver the goods at buyers premises/destination preferred/named..

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