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Delivery Terms
International Trade Delivery Terms
International trade delivery terms define the responsibilities, costs, risks, transportation, and customs obligations between buyers and sellers. These globally accepted rules are commonly known as Incoterms.
Why Are Delivery Terms Important?
In international import and export operations, it is essential to clearly define where goods will be delivered, who will pay transportation costs, who is responsible for insurance, and at which point the risk transfers from seller to buyer. Delivery terms standardize these responsibilities.
Delivery Terms with Minimum Seller Responsibility
EXW – Ex Works
Under this category, the seller makes the goods available at their premises, warehouse, or factory. Transportation, loading, export procedures, and most logistics operations are handled by the buyer.
Carrier-Based Delivery Terms
FCA, CPT, CIP
In this group, goods are delivered to a carrier designated by the seller. Depending on the selected delivery term, transportation and insurance costs may be covered by the seller, while risk transfer depends on the agreed delivery point.
Delivery Terms for Sea and Inland Waterway Transport
FAS, FOB, CFR, CIF
These delivery terms are specifically designed for maritime transportation. They define responsibilities related to goods delivered alongside a vessel, on board a vessel, or transported by sea freight. FOB and CIF are among the most widely used international trade terms.
Destination-Based Delivery Terms
DAP, DPU, DDP
In this category, the seller is responsible for delivering the goods to the buyer’s country or the agreed destination point. Seller obligations are broader, and under DDP terms, customs duties and taxes are generally covered by the seller.
General Overview
Delivery terms generally range from minimum to maximum seller responsibility. EXW represents the lowest level of seller obligation, while DDP represents the highest level of responsibility for the seller.
List of International Trade Delivery Terms
Terms Used for Any Mode of Transport
- EXW – Ex Works
- FCA – Free Carrier
- CPT – Carriage Paid To
- CIP – Carriage and Insurance Paid To
- DAP – Delivered At Place
- DPU – Delivered at Place Unloaded
- DDP – Delivered Duty Paid
Terms Used for Sea and Inland Waterway Transport
- FAS – Free Alongside Ship
- FOB – Free On Board
- CFR – Cost and Freight
- CIF – Cost, Insurance and Freight
International Trade Delivery Terms