Watson Park Associates - Letters of Credit & International Direct Collections

Incoterms Guidelines

Air - Terms of Sale

TERMS OF SALE	SELLER'S/EXPORTER'S ROLE	BUYER ASSUMES POSSESSION AT
EXW - Ex Works	Goods packed, labeled, ready to go	Seller's "works"
FCA - Free Carrier	Prepare goods, pay inland	Named airport
CPT - (Freight) Carriage Paid To	Pay freight to destination airport	Destination airport
CIP - Cost, Insurance Paid To	Pay freight & insurance to named destination	Named place
DAT - Delivered At Terminal	Pay freight until it is unloaded at destination terminal	Named terminal
DAP - Delivered At Place	Pay freight to named point at destination	Named place
DDP - Delivered, Duty Paid	Pay freight, customs/import fees to named destination	Named place

Ocean - Terms of Sale

TERMS OF SALE	SELLER'S/EXPORTER'S ROLE	BUYER ASSUMES POSSESSION AT
EXW - Ex Works	Goods packed, labeled, ready to go	Seller's "works"
FAS - Free Alongside Ship	Ship to port, pay inland	The vessel, port city
FOB - Free On Board	Ship to port, on board vessel, pay inland & loading	The vessel, port city
CFR - Cost and Freight	Pay freight to named destination	Destination port
CPT - (Freight) Carriage Paid To	Ship to destination port, pay freight	Destination port
CIF - Cost, Insurance and Freight	Ship to destination port, pay freight & insurance	Destination port
DAT - Delivered At Terminal	Pay freight until it is unloaded at destination terminal	Named terminal
DAP - Delivered At Place	Pay freight to named point at destination	Named place
DDP - Delivered, Duty Paid	Ship to destination port, pay freight, customs/import fees to named destination	Named place

Ground (Truck, Rail) - Terms of Sale

TERMS OF SALE	SELLER'S ROLE	BUYER ASSUMES POSSESSION AT
EXW - Ex Works	Goods packed, labeled, ready to go	Seller's "works"
FOB - Free On Board	Prepare goods, load truck	Named place
DAF - Delivered At Frontier	Load and pay truck freight	National border at named border point
CFR - Cost and Freight	Pay freight to destination city	Destination city
CPT - (Freight) Carriage Paid To	Pay freight to destination city	Destination city
CIF - Cost, Insurance and Freight	Pay freight & insurance to destination city	Destination city
CIP - Cost, Insurance Paid To	Pay freight & insurance to destination	Destination city

Incoterms Guidelines

Air - Terms of Sale

TERMS OF SALE	SELLER'S/EXPORTER'S ROLE	BUYER ASSUMES POSSESSION AT
EXW - Ex Works	Goods packed, labeled, ready to go	Seller's "works"
FCA - Free Carrier	Prepare goods, pay inland	Named airport
CPT - (Freight) Carriage Paid To	Pay freight to destination airport	Destination airport
CIP - Cost, Insurance Paid To	Pay freight & insurance to named destination	Named place
DAT - Delivered At Terminal	Pay freight until it is unloaded at destination terminal	Named terminal
DAP - Delivered At Place	Pay freight to named point at destination	Named place
DDP - Delivered, Duty Paid	Pay freight, customs/import fees to named destination	Named place

Ocean - Terms of Sale

TERMS OF SALE	SELLER'S/EXPORTER'S ROLE	BUYER ASSUMES POSSESSION AT
EXW - Ex Works	Goods packed, labeled, ready to go	Seller's "works"
FAS - Free Alongside Ship	Ship to port, pay inland	The vessel, port city
FOB - Free On Board	Ship to port, on board vessel, pay inland & loading	The vessel, port city
CFR - Cost and Freight	Pay freight to named destination	Destination port
CPT - (Freight) Carriage Paid To	Ship to destination port, pay freight	Destination port
CIF - Cost, Insurance and Freight	Ship to destination port, pay freight & insurance	Destination port
DAT - Delivered At Terminal	Pay freight until it is unloaded at destination terminal	Named terminal
DAP - Delivered At Place	Pay freight to named point at destination	Named place
DDP - Delivered, Duty Paid	Ship to destination port, pay freight, customs/import fees to named destination	Named place

Ground (Truck, Rail) - Terms of Sale

TERMS OF SALE	SELLER'S ROLE	BUYER ASSUMES POSSESSION AT
EXW - Ex Works	Goods packed, labeled, ready to go	Seller's "works"
FOB - Free On Board	Prepare goods, load truck	Named place
DAF - Delivered At Frontier	Load and pay truck freight	National border at named border point
CFR - Cost and Freight	Pay freight to destination city	Destination city
CPT - (Freight) Carriage Paid To	Pay freight to destination city	Destination city
CIF - Cost, Insurance and Freight	Pay freight & insurance to destination city	Destination city
CIP - Cost, Insurance Paid To	Pay freight & insurance to destination	Destination city

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