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I need a reply to this ? The Incoterms rules or...




I need a reply to this ? The Incoterms rules or are a series of pre-defined commercial terms published by the International Chamber of Commerce widely used in international commercial transactions. Incoterms rules are intended primarily to clearly communicate the tasks, costs and risks associated with the transportation and delivery of goods. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries. EXW: Ex Works- this term constitutes a named place of delivery. The seller makes the goods available at its premises. This places maximum obligation on the buyer and minimum obligations on the seller. The buyer bears the risk for bringing the goods to their final destination. ? FOB: Free On Board- This term constitutes named port of shipment. The seller must load the goods on board the vessel nominated by the buyer. Costs and risk are divided when the goods are actually on board of the vessel. The seller bears the expense and risk of shipping. CIF: Cost, Insurance, and Freight- This term constitutes named port of destination. This price includes in a lump sum the cost of the goods and the insurance and freight to the named destination. Seller must pay all costs to bring goods to the destination. Risk is transferred to the buyer once the goods are loaded on the vessel. DDU: Delivered Duty Unpaid- This term constitutes named place of destination. The seller delivers the goods to the buyer to the named place of destination in the contract of sale. The buyer is responsible for the costs and risk for the unloading, duty, and any subsequent delivery beyond the place of destination,this will not open for me can you write it out were I can see it please.


Paper#12628 | Written in 18-Jul-2015

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