| SR. No | Terms | Loading on truck (carrier) | Export-Customs Clearance | Carriage to POL | Unloading of truck in POL | Loading charges in POL | Carriage to POD | Unloading charges in POD | Loading on truck in POD | Carriage to place of destination | Insurance | Import customs clearance | Import taxes |
| 1 | EXW | No | No | No | No | No | No | No | No | No | No | No | No |
| 2 | FCA | Yes | Yes | Yes | No | No | No | No | No | No | No | No | No |
| 3 | FAS | Yes | Yes | Yes | Yes | No | No | No | No | No | No | No | No |
| 4 | FOB | Yes | Yes | Yes | Yes | Yes | No | No | No | No | No | No | No |
| 5 | CFR | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | No | No | No |
| 6 | CIF | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | Yes | No | No |
| 7 | DAT | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | No | No |
| 8 | DAP | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No |
| 9 | CPT | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No |
| 10 | CIP | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No |
| 11 | DDP | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes |
TERMS ELIMATINATED FROM INCOTERM 2000
1. DAF – Delivered At Frontier (Named place of delivery)
2. DES – Delivered Ex Ship (Named port of delivery)
3. DEQ – Delivered Ex Quay (Named port of delivery)
4. DDU – Delivered Duty Unpaid (Named place of destination)
The new Incoterms 2010 rules were revised by the ICC ( International Chamber of Commerce)and became effective since January 2011.
ReplyDelete04 Terms ( (DAF, DEQ, DES, DDU) has been eliminated and 02 New Tems, DAP ( Delivered at Place and DAT ( Delivered at Terminal)are added.
ICC also Emphasis on using FCA instead FOB for containerized Traffic. As Per ICC, The Term FOB is not suitable for container traffic. The term FCA is more appropriate for container traffic because the risk in transit should transfer from seller to buyer once the seller lose physical control.
The New Rules (INCO TERM 2010)are having better clarification and application of the eleven (11) Incoterm and reliable with the way global trade is actually conducted since the last update in 2000.
ReplyDelete