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    Incoterms

The Incoterms (International Commercial Terms) were created in 1963, when the International Chamber of Commerce (ICC), based in Paris, interpreted consolidated the different contractual forms that were being used in the international trade.

The Incoterms are used to define, within the structure of an international procurement sales contract, the rights obligations from the exporter importer, stablishing a standard of definitions, determining neutral rules practices, : the exporter is supposed to deliver the commodity, who pays the shipping who is responsible for hiring the insurance.

There are 11 Incoterms, represented by acronyms standardized by the ICC (International Chamber of Commerce) used in the trades (grouped in four categories by ascendant order of vendor obligation):

Any Transport Mode Sea / Inland
Waterway Transport
Any
Transport Mode
EXW FCA FAS FOB CFR CIF CPT CIP DAT DAP DDP
Charges / Fees Ex Works Free Carrier Free Alongside Ship Free On Board Cost & Freight Cost Insurance & Freight Carriage Paid To Carriage Insurance Paid To Delivered at Terminal Delivered at Place Delivered Duty Paid
Packaging Buyer or Seller Seller Seller Seller Seller Seller Seller Seller Seller Seller Seller
Loading Charges Buyer Seller* Seller Seller Seller Seller Seller Seller Seller Seller Seller
Delivery to Port / Place Buyer Seller Seller Seller Seller Seller Seller Seller Seller Seller Seller
Export Duty & Taxes Buyer Seller Seller Seller Seller Seller Seller Seller Seller Seller Seller
Origin Terminal Charges Buyer Buyer Seller Seller Seller Seller Seller Seller Seller Seller Seller
Loading on Carriage Buyer Buyer Buyer Seller Seller Seller Seller Seller Seller Seller Seller
Carriage Charges Buyer Buyer Buyer Buyer Seller Seller Seller Seller Seller Seller Seller
Insurance Seller Seller
Destination Terminal Charges Buyer Buyer Buyer Buyer Buyer Buyer Seller Seller Seller Seller Seller
Delivery to Destination Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Seller Seller
Import Duty & Taxes Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Seller
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