FAS – Free Alongside Ship
FAS Terms require the seller to place the goods alongside the carrier vessel at the port of export.With it being their responsibility to perform export clearance. The buyer then takes responsibility for the goods from that point onwards.
FOB – Free on Board
FOB Terms indicate the seller and buyer have fairly equal responsibilities for all costs, risks and liabilities associated with the movement of the goods. FOB is usually the recommended option for importers and buyers as it allows greater control of costs.
EXW – Ex Works
Ex Works terms indicate the buyer is responsible for collecting the goods from the seller and accepts all onwards arrangements including costs, risks and liabilities
FCA – Free Carrier
FCA terms indicate that the seller is responsible for the goods, including costs, up to delivery to the buyer’s chosen carrier at a named location – often a terminal or transport hub or forwarder’s warehouse. The seller is responsible for export clearance, after which the responsibility transfers to the buyer
CPT – Carriage Paid To
CPT shipping terms indicate that the seller bears all costs of transporting goods to the port of discharge. The sellers responsibility for the goods ends on delivery of the freight.
CIP – Carriage And Insurance Paid To
CIP terms indicate the same seller responsibilities as CPT (cost to port of discharge, responsibility to delivery to carrier) but with the additional inclusion of maritime insurance
DAT – Delivered At Terminal
DAT Terms mean the seller is responsible for delivery to the destination port. After which the oweness is on the buyer. The buyer is responsible for all costs from the point of delivery.
DAP – Delivered At Place
Very similar terms to DAT, with the difference that the buyer is responsible for unloading the goods at the named place of delivery. Buyer assumes responsibility from the point of unloading.
DDP – Delivered Duty Paid
A term indicating that the shipper/consignor is responsible for paying all duties and taxes at the agreed delivery point. DDP terms indicate that the seller is responsible for carriage and delivery. The buyer’s responsibility for the goods begins when they receive them for unloading at destination.