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Incoterms



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International commercial terms used to define delivery conditions. They are regulated and published by the International Chamber of Commerce in Paris.
There are 11 Incoterms.
Certain terms are only used for sea or waterway transport (FAS, FOB, CFR, CIF). The others are used indifferent of the type of transport, including sea and water.

For a given term, YES indicates that the seller should include the service in his price. NO indicates that it is the responsibility of the buyer.
If insurance is not included such as in CFR conditions, then insurance for the transport is the responsibility of the buyer or the seller according to who bears the risk for the cargo at the time of shipping. In the case of FOB, CFR and CIF it’s the buyer who bears the risk and in CIF (as in CIP) it falls to the seller to insure the goods transported for the buyer.
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