FREE ON BOARD (FOB) means that the seller delivers the goods to the buyer on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered. The latest version is that of Incoterms 2020 which is expected to be in effect for a decade, until December 2029. First, when the named place is the seller’s premises, the goods are delivered when they are loaded on the means of transport arranged by the buyer. endstream endobj startxref DELIVERED AT PLACE (DAP) means that the seller delivers the goods – and transfers risk - to the buyer when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination or at the agreed point within that place, if any such point is agreed. It was ICC C under Incoterms® 2010. Download our Incoterms® 2020 Rules brochure PDF (1.2 MB) Download FREE CARRIER (FCA) means that the seller delivers the goods to the buyer in one or other of two ways: Whichever of the two is chosen as the place of delivery, that place identifies where risk transfers to the buyer and the time from which costs are for the buyer’s account. CARRIAGE AND INSURANCE PAID TO (CIP) means that the seller delivers the goods – and transfers the risk - to the buyer by handing them over to the carrier contracted by the seller or by procuring the goods so delivered. The International Chamber of Commerce updates Incoterms every ten years, most recently in 2020. Download our Incoterms® 2020 Rules brochure, DAT (Delivered at Terminal) is renamed Delivered at Place Unloaded (DPU), FCA (Free Carrier) now allows for Bills of Lading to be issued after loading. Cookies are used to improve the functionality and use of our internet site, as well as for analytic and advertising purposes. ÃÆs-…‹yÎ+|=¥uÊ”‘f#;S™�fq˜8�#˜Ö "Ù˜J�B´17Sßj(ÿ@€ â] Incoterms® are ICC’s standard definitions of trade terms and are internationally If you have other shipping reference numbers... International Chamber of Commerce (ICC) website. COST INSURANCE AND FREIGHT (CIF) means that the seller delivers the goods to the buyer on board the vessel or procures the goods already so delivered. DELIVERED DUTY PAID (DDP) means that the seller delivers the goods to the buyer when the goods are placed at the disposal of the buyer, cleared for import, on the arriving means of transport, ready for unloading, at the named place of destination or at the agreed point within that place, if any such point is agreed. %PDF-1.6 %���� This is because risk transfers from seller to buyer when the goods are delivered to the buyer by handing them over to the carrier; the seller must nonetheless contract for the carriage of the goods from delivery to the agreed destination.

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