Technical terms

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EXU (Ex-Works) – the seller fulfills his obligation to deliver when he has made the goods available at his premises.

FCA Free Carrier – the seller fulfills his obligation to deliver when he has handed over the goods cleared for export, into the charge of the carrier named by the buyer at the named price.

FAS Free Along Side – the goods have been placed alongside the vessel on the quay at the named port of shipment.

FOB Free On Board – when the goods have passed over the ship’s rail at the named port of shipment.

CFR Cost and Freight – the seller must pay the cost and freight necessary to bring goods to the named port of destination.

CIF Cost, Insurance and Freight – same as CFR except the seller must provide marine insurance.

CPT Carrier Paid To – the seller pays freight for the carriage of the goods to the named destination.

CIP Carrier and Insurance Paid To – the same obligations as under CPT but the seller has to procure cargo insurance.

DAF Delivered At Frontier – the seller fulfills his obligation to deliver when the goods have been made available and cleared for export at the named point and place at the frontier, before the customer’s border of the adjoining country.

DES Delivered Ex-Ship – the seller makes the goods available to the buyer on board the ship not cleared for import at the named port of destination.

DEQ Delivered Ex-Quay – the seller makes the goods available to the buyer on the quay at the named port of destination, cleared for exportation.

DDU Delivered Duty Unpaid – the goods have been made available at the named place in the country of importation. The seller has to bear the costs/risks involved in bringing the goods (excluding duties, taxes and other official charges payable upon importation) as well as the costs/risks of custom formalities.

DDP Delivered Duty Paid – the same as DDU except the seller bears the risks/costs, including duties, taxes and other charges of delivering the goods thereto cleared for importation