Most Used Shipping Terms
This the most used terms in shipping and in international Business, for more terms explication please downlaod the PDF file.
Under FOB terms the seller bears all costs and risks up to the point the goods are loaded on board the vessel.
The seller pays for the carriage of the goods up to the named port of destination.
DAT – Delivered At Terminal
This Incoterm requires that the seller delivers the goods, unloaded, at the named terminal.
The seller makes the goods available at their premises, or at another named place.
The seller in whose favour an L/C is issued, ie the person who will "benefit" from the L/C.
An unconditional order in writing, issued by the seller instructing the buyer to pay the seller's bank a specified amount。
The seller delivers the goods, cleared for export, at a named place (possibly including the seller's own premises).
CPT replaces the C&F (cost and freight) and CFR terms for all shipping modes outside of non-containerized seafreight.
CIP – Carriage and Insurance Paid to
This term is broadly similar to the above CPT term, with the exception that the seller is required to obtain insurance for the goods while in transit.
CIF – Cost, Insurance & Freight
This term is broadly similar to the above CFR term, with the exception that the seller is required to obtain insurance for the goods while in transit to the named port of destination.
the seller delivers 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.
DDP – Delivered Duty Paid
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.
