Regulation for any means of transportation
They are used in Operations where one or more modes of transport are used, except for port-to-port shipping.
When more than one means of transport is used (multimodal), this is also the appropriate group, even when a vessel is one of those means of transport, probably the main one. Similarly, this group is recommended for containerized operations.
The seller fulfills his obligation to deliver once he has placed the goods at his own premises (factory, warehouse, etc.) at the disposal of the buyer.
It is not responsible for the loading of the goods on the transport provided by the buyer nor for the export customs clearance, unless otherwise agreed. The buyer bears all costs and risks involved in transporting the goods from the seller's premises to the desired destination. This term represents the minimum obligation on the part of the seller.
The seller fulfills his obligation to deliver once he has delivered the goods, after export clearance, to the carrier named by the buyer at the named place.
If the buyer does not indicate a specific point of delivery, the seller may choose, within the stipulated place or area, where he will deliver to the carrier. Where, in accordance with commercial practice, the seller's assistance is required to carry out the contract with the carrier (in cases such as transport by rail or air), the seller may do so at the buyer's risk and expense.
The seller assumes the cost of freight for the transport of the goods to the agreed destination.
Also, the CPT term requires the seller to clear the goods for export.
The risk of loss of or damage to the goods, together with any additional costs due to events occurring after the date of delivery to the carrier, shall pass from the seller to the buyer at the time the goods are handed over to the carrier. If the transport involves several carriers to the agreed point of destination, the risk passes at the moment the goods have been handed over to the first carrier.
The seller has the same obligations as under the CPT term and, in addition, must obtain transportation insurance against the risk incurred by the buyer of loss of or damage to the goods during transportation. Also, the CPT term requires the seller to clear the goods for export.
The seller takes out the insurance and pays the corresponding premium. The buyer should note that, under the CIP term, the seller is obliged to obtain insurance only for the minimum coverage (110%) and issue it in negotiable form to the buyer and in the currency of the contract.
The seller has fulfilled his obligation to deliver the goods when the goods have been placed at the disposal of the buyer at a terminal at the named port or place of destination, unloaded and not cleared for import.
Terminal includes any place, covered or uncovered, such as a dock, warehouse, container yard or road, rail or air terminal, which should always be specified as clearly as possible.
The seller must bear all costs and risks until the goods are placed at the named terminal of destination. If the seller must also bear the costs and risks from the terminal to another place, then the terms DAP or DDP should be used.
The seller has fulfilled his obligation to deliver the goods once they have been placed at the disposal of the buyer at the named place of destination.
The seller must bear the risks and costs of placing the goods at the agreed point (excluding duties, taxes and any other official charges arising from the import in the country of destination). The buyer must bear any additional costs and risks arising from failure to clear the goods in the country of importation.
If the parties wish the seller to carry out the customs formalities and bear the resulting costs and risks, precise instructions should be added to the term DAP.
The seller has fulfilled his obligation to deliver the goods once they have been placed at the disposal of the buyer at the named place of destination. The seller must bear the risks and costs of placing the goods at the named place, including customs duties, taxes and costs of delivery of the goods, cleared for import.
While the EXW term represents the minimum obligation for the seller, the DDP term represents the maximum obligation.
This term should not be used if the seller cannot, directly or indirectly, obtain the import license.
If the parties wish the buyer to pay the import duties, the term DAP should be used.
"Free alongside ship" means that the seller delivers when the goods are placed alongside the vessel (e.g. on a quay or barge) nominated by the buyer at the named port of shipment. The risk of loss or damage to the goods passes when the goods are alongside the ship, and the buyer bears all costs from that time onwards.
en adelante.
"Free on board" means that the seller delivers the goods on board the vessel named by the buyer at the named port of shipment or acquires the goods already delivered. The risk of loss or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that time onwards.
"Cost and Freight" means that the seller delivers the goods on board the ship or acquires the goods already delivered. The risk of loss or damage to the goods passes when the goods are on board the vessel. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.
"Cost, Insurance and Freight" means that the seller delivers the goods on board the ship or acquires the goods already delivered. The risk of loss or damage to the goods passes when the goods are on board the ship. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. The seller also takes out insurance coverage at the buyer's expense against the risk of loss of or damage to the goods during transportation. The buyer should note that, under CIF, the seller must obtain insurance only with minimum coverage. In case the buyer wishes to have more insurance protection, he must expressly agree with the seller or take out additional insurance directly.
