Ex Works- means that the seller delivers when it
places the goods at the disposal of the buyer at the seller’s premises or at
another named place (i.e.,works, factory, warehouse, etc.). The seller does not
need to load the goods on any collecting vehicle, nor does it need to clear the
goods for export, where such clearance is applicable.
· FCA (Free Carrier)
Free Carrier- means that the seller
delivers the goods to the carrier or another person nominated by the buyer at
the seller’s premises or another named place. The parties are well advised to
specify as clearly as possible the point within the named place of delivery, as
the risk passes to the buyer at that point.
· CPT (Carriage Paid To)
Carriage Paid To- means that the seller
delivers the goods to the carrier or another person nominated by the seller at
an agreed place (if any such place is agreed between parties) and that the
seller must contract for and pay the costs of carriage necessary to bring the
goods to the named place of destination.
· CIP (Carriage And
Insurance Paid To)
Carriage and Insurance Paid
to- means that the seller delivers the goods to
the carrier or another person nominated by the seller at an agreed place (if
any such place is agreed between parties) and that the seller must contract for
and pay the costs of carriage necessary to bring the goods to the named place
of destination.
The seller also contracts for insurance
cover against the buyer’s risk of loss of or damage to the goods during the
carriage. The buyer should note that under CIP the seller is required to obtain
insurance only on minimum cover. Should the buyer wish to have more insurance
protection, it will need either to agree as much expressly with the seller or
to make its own extra insurance arrangements.
· DAT (Delivered At
Terminal)
Delivered at Terminal- means that the seller delivers when the goods, once unloaded
from the arriving means of transport, are placed at the disposal of the buyer
at a named terminal at the named port or place of destination. “Terminal”
includes a place, whether covered or not, such as a quay, warehouse, container
yard or road, rail or air cargo terminal. The seller bears all risks involved
in bringing the goods to and unloading them at the terminal at the named port
or place of destination.
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