Incoterms Archives - Umit Gumusten

INCOTERMS 2020 | CIF – COST INSURANCE FREIGHT

CIF, short for “Cost Insurance Freight”, means that the exporter is obligated to deliver the goods to the buyer by placing them aboard the vessel which it paid for and cover the insurance as well. The exporter assumes all the costs of

June 6, 2021

Incoterms

INCOTERMS 2020 | CFR – COST AND FREIGHT

CFR, short for “Cost and Freight”, means that the exporter is obligated to deliver the goods on board the vessel arranged by the exporter itself. Until the goods are placed aboard the ship, the exporter bears all risks and costs of loading

June 5, 2021

Incoterms

INCOTERMS 2020 | FOB – FREE ON BOARD

FOB, short for “Free on Board”, means that the exporter is obligated to deliver the goods aboard the vessel designated by the importer at the agreed delivery port in the country of export.

June 4, 2021

Incoterms

INCOTERMS 2020 | FAS – FREE ALONGSIDE SHIP

FAS, short for “Free Alongside the Ship”, means that the exporter is obligated to deliver the goods by placing them alongside the vessel nominated by the buyer at the named port of shipment.

June 3, 2021

Incoterms

INCOTERMS 2020 | DDP – DELIVERY DUTY PAID

DDP, short for “Delivery Duty Paid”, means that the exporter is obligated to deliver the goods to the importer at the agreed delivery/destination point in the importer’s country and pay for all duties and taxes in both countries and, if any, transit

June 2, 2021

Incoterms

INCOTERMS 2020 | DPU – DELIVERED AT PLACE UNLOADED

DPU, short for “Delivered at Place Unloaded”, means that the exporter is obligated to deliver the goods to the importer at the agreed delivery/destination point as unloaded. DPU is used in any mode of transportation. Export clearance is the liability of the

June 1, 2021