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International Chamber of Commerce, Paris (ICC, Paris)
Rules for Any Mode(s) of Transport (seven)
EXW – Ex Works (named place of delivery)
· The seller makes the goods available at its premises. This term places the maximum obligation on the buyer and minimum obligations on the seller.
· The buyer pays all transportation costs and also bears the risks for bringing the goods to their final destination.
· The seller doesn't load the goods on collecting vehicles and doesn't clear them for export.
FCA – Free Carrier (named place of delivery)
· The seller hands over the goods, cleared for export, into the disposal of the first carrier (named by the buyer) at the named place.
· The seller pays for carriage to the named point of delivery, and risk passes when the goods are handed over to the first carrier.
CPT - Carriage Paid To (named place of destination)
· The seller pays for carriage. Risk transfers to buyer upon handing goods over to the first carrier.
CIP – Carriage and Insurance Paid to (named place of destination)
· Seller pays for carriage and insurance to the named destination point, but risk passes when the goods are handed over to the first carrier.
DAT – Delivered at Terminal (named terminal at port or place of destination)
· Seller pays for carriage to the terminal, except for costs related to import clearance, and assumes all risks up to the point that the goods are unloaded at the terminal.
DAP – Delivered at Place (named place of destination)
· Seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks prior to the point that the goods are ready for unloading by the buyer.
DDP – Delivered Duty Paid (named place of destination)
· Seller is responsible for delivering the goods to the named place in the country of the buyer, and pays all costs in bringing the goods to the destination including import duties and taxes.
Rules for Sea and Inland Waterway Transport (four)
FAS – Free Alongside Ship (named port of shipment)
· The seller must place the goods alongside the ship at the named port. The seller must clear the goods for export.
· Suitable only for maritime transport but NOT for multimodal sea transport in containers. This term is typically used for heavy-lift or bulk cargo.
Multimodal transport (also known as combined transport) is the transportation of goods under a single contract, but performed with at least two different means of transport; the carrier is liable (in a legal sense) for the entire carriage, even though it is performed by several different modes of transport (by rail, sea and road, for example).
FOB – Free on Board (named port of shipment)
· The seller must load the goods on board the vessel nominated by the buyer.
· Cost and risk are divided when the goods are actually on board of the vessel (this rule is new!).
· The seller must clear the goods for export.
· The term is applicable for maritime and inland waterway transport only but NOT for multimodal sea transport in containers.
CFR – Cost and Freight (named port of destination)
· Seller must pay the costs and freight to bring the goods to the port of destination.
· However, risk is transferred to the buyer once the goods are loaded on the vessel (this rule is new!).
· Maritime transport only and Insurance for the goods is NOT included. This term is formerly known as CNF (C&F).
CIF – Cost, Insurance and Freight (named port of destination)
· Exactly the same as CFR except that the seller must in addition procure and pay for the insurance.
· Maritime transport only.