INCOTERMS
International trade, export, import transactions, simple and clear rules between different countries, which take place in different geographies, require a common language to minimize conflict. At this point, can delivery forms Åžek and “payment methods Åžek are the most crucial issues.
Incoterms and 11 different types of delivery, with the choice of exporters and importers of the terminology presented to the use of companies. It offers clear rules for the transportation of goods, handover, distribution of risks.
News: New incoterms announced at the beginning of 2020, please check our up to date Blogpost: INCOTERMS 2020 DETAILED GUIDE
Incoterms History
In 1936, for the first time in Paris, the International Chamber of Commerce (ICC) published a series of international rules under the name Incoterms 1936 (INternational Commercial TERMS). Over time, requests from ICC members, experience during the trading phase, and the way trade changed, Incoterms were revised. According to this, the incoterms were revised in 1963, 1967, 1976, 1980, 1990, and 2000 and finally on 27.09.2010. The current version is called to Incoterms 2010
Incoterms 2010 version of DAF, DES, DEQ, DDU submission forms canceled, instead; DAT over Delivered At Terminal At and DAP ”Delivered At Place At delivery methods are added.
INCOTERMS 2010: CLASSIFICATION ACCORDING TO DELIVERY POINT
Incoterms In 2010, there are 11 different delivery methods in four basic groups determined by the delivery point.
INCOTERMS 2010 – Basic Terms
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E Group
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F Group
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FCA Free Carrier
FOB Free On Board
FAS Free Alongside Ship
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C Group
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CFR Cost and Freight
CIF Cost, Insurance and Freight (for detailed information just click the link)
CPT Carriage Paid To
CIP Carriage and Insurance Paid to
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D Group
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DAP Delivered At Place
DAT Delivered At Terminal
DDP Delivered Duty Paid
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