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Incoterms
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The Incoterms establish international rules that allow to interpret and to solve the problems derived from a vague knowledge of the commercial practices used in the countries of the buyer and the seller, according to the Official Rules of the International Chamber of Commerce (ICC), for the interpretation of commercial terms INCOTERMS 2000.
Intention and reach of INCOTERMS 2000
The intention of the Incoterms is to provide a system of international rules for the interpretation of the commercial terms more commonly used in the foreign trade.
Thus, It is possible to avoid or to at least reduce the uncertainties of the diverse interpretations of such terms in different countries. The reach of the Incoterms limits the matters referring to the rights and dues of the parts of the purchase contract with respect to the delivery of merchandise. The Incoterms treats on a number of identified obligations imposed to the parts and the distribution of the risk between the parts.
Incoterms 2000 contains 13 rules that have been defined which they are grouped in four basically different categories, applicable for the marine and fluvial transport or all the ways of the transport:
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Applicable only for maritime transport |
Applicable for all modes of transport (maritime including) |
| Departure terms |
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EXW: Ex Works |
| Shipment terms, main carriage unpaid |
FAS: Free Alongside Ship
FOB: Free On Board |
FCA: Free Carrier |
| Shipment terms, main carriage paid |
CFR: Cost and Freight
CIF: Cost, Insurance and Freight |
CPT: Carriage Paid To
CIP: Carriage and Insurance Paid to |
| Delivery terms |
DES: Delivered Ex Ship
DEQ: Delivered Ex Quay |
DAF: Delivered At Frontier
DDU: Delivered Duty Unpaid
DDP: Delivered Duty Paid |
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