Beginner's Guide to Exporting. 4th Edition.

1 2 Beginner’s Guide To Exporting 4.1 INCOTERMS 2010 (Ex-works, FOB, CFR, CIF) The other terms and modes of transportation Any Mode of Transportation Sea and Inland Waterway Transportation EXW: Ex Works FCA: Free Carrier CPT: Carriage Paid To CIP: Carriage and Insurance Paid DAT: Delivered At Terminal DAP: Delivered At Place DDP: Delivered Duty Paid FAS: Free Alongside Ship FOB: Free On Board CFR: Cost and Freight CIF: Cost, Insurance, and Freight EXW (EX WORKS) FOB (FREE ON BOARD) Carrier Border Port Ship Port Buyer CFR (COST AND FREIGHT) CIF (COST, INSURANCE AND FREIGHT) recommended recommended Seller Named Place The risk is borne by the seller The costs are borne by the seller Transport insurance is the resposibility of the seller The risk is borne by the buyer The costs are borne by the buyer Clauses for sea and inland water transport Source : Adapted from International Chamber of Commerce (ICC) LOGISTICS AND EXPORT DOCUMENTATION CHAPTER 4