Transcription of INCOTERMS - Contracts
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INCOTERMS - Contracts
Contracts & Purchasing Services Pty LtdPage 1 of 2 ~ purpose of INCOTERMS is to provide a set of international rules for the interpretation of the most commonly used trade terms for foreign trade. INCOTERMS are published by the International Chamber of Commerce (ICC).Under INCOTERMS 1990 all obligations related to given trade terms are grouped under 10 headings, with the obligations of the seller and buyer under each heading stated and mirrored with respect to the same subject - 1990 Term Description Place of Transfer EXW Ex-Works (.. named place) FCA Free-Carrier (.. named place) FAS Free Alongside Ship (.. named port of shipment) FOB Free On Board (.. named port of shipment) CFR Cost & Freight (.. named port of destination) CIF Cost, Insurance and Freight (.. named port of destination) CPT Carriage Paid To (.. named place of destination) CIP Carriage, Insurance Paid To (.)
© Contracts & Purchasing Services Pty Ltd Page 1 of 2 h ttp://www.contracts.com.au/~contracts/incoterm.htm The purpose of Incoterms is to provide a set of international rules for the interpretation of the most
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