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Business English (Subject) / Incoterms (Lesson)
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- Which incoterms are only used for transport by ship?? FAS = Free alongside ship (D=Frei Längsseits d. Schiffs) FOB = Free on board (D=Frei an Bord) CFR = Cost and Freight (D=Kosten und Fracht) CIF = Cost, Insurance and Freight (D=Kosten,Vers.& Fracht bis zum Bestimmungshafen)
- Which 7 Incoterms are used for any other mode? EXW = Ex-works (D=ab Werk) FCA = Free carrier (D=Frei Frachtführer) DAT = Delivered at Terminal (D=geliefert Terminal) DAP = Delivered at Place (D=geliefert vereinbarter Ort) CPT = Carriage Paid To (D=Fracht bezahlt bis) CIP = Carriage Insurance Paid (D=Fracht & Versicherung bez.) DDP = Delivered Duty Paid (D=geliefert, Zoll bezahlt)
- EX-WORKS The seller makes the goods available at his premises. The buyer bears the full risk from there to the destination.
- FCA Free carrier - means that the seller delivers the good´s to the carrier at the sellers premises or another named place.
- FAS Free Alongside Ship - means the seller must deliver the goods at the quay alongside the ship. From this point onwards the buyer bears the risk
- FOB Free On Board - means that the sellers delivers the goods on board at the named port. The risks & costs passes to the buyer when the goods are on board.
- CFR Cost and Freight means that the seller delivers the goods on board. The risk passes when goods are on board. The seller bears freight and costs to the named port of destination.
- CIF Cost, Insurance & Freight means that the seller delivers the goods on board. The risk passes when the goods are on board. The seller bears the cost of insurance and freight to the named port.
- CPT Carriage Paid To - means the Seller pays the costs to the agreed place of destination. The risk transfered to the buyer at the place of delivery
- CIP Carriage and Insurance paid to - means that the seller delivers the goods to the carrier at an agreed place. He bears the freight and insurance costs to the destination. Risk is transferred to the buyer at the named delivery
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- DAT Delivered at Terminal - means the seller delivered the goods unloaded at a specified place inside the agreed terminal. Risk is transferred as soon as the goods are unloaded.
- DAP Delivered at Place - means the seller delivers the goods to the disposal of the buyer to the agreed place. He assumes the risk until the goods are ready for unloading.