Practical informations Incoterms

Transitaire CERL

The INternational COmmercial TERMS are the obligations of buyers and sellers under an international trade agreement.

They thus specify the respective responsibilities and sharing:

Costs
Risks

Incoterms

Incoterms are a codification of the terms of a commercial transaction set up by the International Chamber of Commerce. Each modality is codified by three letters and is inseparable from the place of delivery to which it applies.

Incoterms do not define the time of transfer of ownership! They only define the time of transfer of risks related to transport, different fees and transport organization. They define that particular buyer or seller must eventually bear the insurance of the transportation of goods. In terms of the insurance contract, the rules define that in both cases, CIP and CIF. In all other cases, insurance coverage is the responsibility of who bears the risk.

Incoterms 2010

Since 1 January 2011, Incoterms 2000 have become the Incoterms 2010.

You will find below a summary of Incoterms 2010:

Incoterms	Export customs declaration	Carriage to port of export	Unloading of truck in port of export	Loading on vessel/airplane in port of export	Carriage (Sea/Air) to port of import	Insurance	Unloading in port of import	Loading on truck in port of import	Carriage to place of destination	Import customs clearance	Import duties and taxes
EXW	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer
FCA	Seller	Seller	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer
FAS	Seller	Seller	Seller	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer
FOB	Seller	Seller	Seller	Seller	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer	Buyer
CPT	Seller	Seller	Seller	Seller	Seller	Buyer	Seller	Buyer/Seller	Seller	Buyer	Buyer
CFR(CNF)	Seller	Seller	Seller	Seller	Seller	Buyer	Buyer/Seller	Buyer	Buyer	Buyer	Buyer
CIF	Seller	Seller	Seller	Seller	Seller	Seller	Buyer/Seller	Buyer	Buyer	Buyer	Buyer
CIP	Seller	Seller	Seller	Seller	Seller	Seller	Seller	Buyer/Seller	Seller	Buyer	Buyer
DAT	Seller	Seller	Seller	Seller	Seller	Seller/Buyer	Seller	Buyer	Buyer	Buyer	Buyer
DAP	Seller	Seller	Seller	Seller	Seller	Seller/Buyer	Seller	Seller	Seller	Buyer	Buyer
DDP	Seller	Seller	Seller	Seller	Seller	Seller/Buyer	Seller	Seller	Seller	Seller	Seller

Remarques Incoterms

Seller: Seller’s liability
Buyer: Responsibility of the buyer
Buyer/Seller : Depends on the negotiation between the seller and the buyer or the negotiation of the contract of carriage.