REFER

TERMI ENCE
FORM
NOLO DEFINITION /
ULA
GY LEGAL
BASIS
*The seller delivers the goods on board the vessel FOB - OC
INCOTER
FOB nominated by the buyer at the named port of (IF ANY) =
MS 2020
shipment or procures the goods already so delivered. CV
*The risk of loss of or damage to the goods passes FOB = CV
INCOTER
when the products are on board the vessel. The (IF NO OC
MS 2020
buyer bears all costs from that moment onwards. IS GIVEN)
*The seller clears the goods for export and delivers
INCOTER
EXW them alongside side the vessel nominated by the EXW=CV
MS 2020
buyer at port of origin
*The seller clears the goods for export and delivers
INCOTER FAS-OC(IF
FAS them alongside side the vessel nominated by the
MS 2020 ANY)=CV
buyer at port of origin
*If the place of delivery is at the seller premises, the
seller must load the goods. If the seller takes place in INCOTER FCA-OC(IF
FCA
a different place, the seller is not responsible of MS 2020 ANY)=CV
unloading.
CFR-
*The seller delivers when the goods are on board and INCOTER
CFR FRT+OC(if
cleared for export. MS 2020
any)=CV
CIF-
*The seller clears the goods at origin places the cargo
INCOTER FRT+INS+
CIF on board and pays for insurance until the port of
MS 2020 OC(if
discharge at the minimum coverage
any)=CV
*The seller clears the goods for export and delivers to CPT-
INCOTER
CPT the carrier nominated at the agreed place of FRT+OC(if
MS 2020
shipment at the origin. any)=CV
CIP-
*The seller clears the goods for expot and is
INCOTER FRT+INS+
CIP responsible for delivering the goods to the carrier
MS 2020 OC(if
nominated by the seller.
any)=CV
*The seller is responsible for moving the goods from DAP-
INCOTER
DAP origin until their delivery at the disposal place agreed FRT+OC(if
MS 2020
with the buyer ready for unloading at destination any)=CV
*The seller is responsible for moving the goods from DPU-
INCOTER
DPU origin until their delivery at the disposal place agreed FRT+OC(if
MS 2020
unloaded at destination. any)=CV
*The deller is responsible for all costs associated until
INCOTER DDP=TAD
DDP the seller delivers the goods to the buyer, cleared for
MS 2020 G
import at the named place of destination.
FREIGHT *The compensation paid for the transportation of INCOTER DF=FRT/BL
 goods. MS 2020
INS
*The insurance contract that specifies the nature of premiumG
INSURANC CMO-22-
the risk or perils insured by the exporter or importer SIS(Php)+
E 2007
of goods during the entire course of transportation rate of
exchange
OTHER *Are necessary expenses for the transaction under CMO-22-
CHARGES incoterms 2007
*Value of imported goods as appraised by the
CUSTOMS INCOTER
customs and used as the basis for assesing the
VALUE MS 2020
amount of import duty and other taxes.
EXCHANGE *Is the price of a unit of foreign currency in terms of CMO-16-
RATE the domestic currency. 2010
DUTIABLE *The value of all imported articles listed in an import
CMO-14- US$50=₱1.
VALUE entry, and based on the declared transaction value
2019 00
(PESO) thereof, multiplied by the applicable exchange rate.
*The rates of duty provided or subsequently fixed DV USD x
RATE OF CMO-22-
pursuant to Sectionb 1608 and 1609 of this Act shall E.R.=
DUTY 2007
be subject to periodic investigation by the Tariff DV(Php)
VAT+IPF+E
CUSTOMS XCISE TAX
DUTY *Refers to the tax imposed on goods when they are (if
transported across international borders. applicable)
*Free paid to a broker for services rendered to a
BROKARA CMTA-RA-
client for the inward or outward clearance of a DV(Php)X
GE FEE 10863
shipment through Customs. R D.=CUD
*Expenses paid by the importer to banks for any of
BANK the following services: issuance of license, advising,
CHARGE confirmation, negotiation, amendment, cancellation, CAO-01-
delayed, 2001
A sum of money paiid to the arrastre contractor by
ARRASTRE the owner consignee, or agent of a shipment for its DV(Php) X
CHARGE receipt from a vessel, handling and temporary CMO-13- 0.00125=B
storage at the piers. 2014 C
* Is the fee charged by ocean carriers to cover the DV(Php) X
WHARFAG
port authority's cost of using a wharf to unload cargo CMO-07- 0.00125=B
E DUES
from vessel 2014 C
IMPORT *A Customs fee paid by the importer to cover the
PROCESSI administrative to cover the administrative cost of CAO-2-
NG FEE precessing import documents. 2001
CUSTOMS *Is a tax on documents, intsruments, loan
DOCUMEN agreements and papers evidencing the acceptance,
TARY assignment, sale or transfer of an obligation,right or CMO-29-
STAMP property inc. 2015
*The total cost of a product delivered at a port of CD+(Php)
TOTAL
destination; the production cost plus transportation +BC+BF+A
LANDED
cost, broker's fee, bank charge, arrastre CMO-07- C+WD+IPF
COST
charge,wharfage dues 2014 +CDS=TLC
 bank charge, arrastre charge, wharfage dues ,
processing fee, and documentary stamp.
*The tax is equivalent to a uniform rate of 12% based
VAT RATE on the gross selling price of goods or properties sold, RA ACT
or gross reciepts from the sale of services NO.9337
TLCX12%
VALUE *VAT is a type of sales tax which is levied on
(VAT
ADDED consumption on the sale of goods, services or
RA ACT RATE)=VA
TAX properties, as well as importation, in the Philippines.
NO.9337 T
CONTAINE EXECUTIV US50every
*All shipments covered by this Exceutive Order shall
R E ORDER forty-
be imposed the mandatory container security fee
SECURITY 635,s.200 footer
(CSF).
FEE 7 container
TOTAL
AMOUNT
DUE OF EXECUTIV CD+VAT+I
THE E ORDER PF+CDS+C
GOVERNM *The actual amount of duties and taxes may differ 635,s.200 SF(if
ENT from the estimated amount herein provided. 7 applicable