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Knowledge   Shipping Terms

Extension of Shipping Term Stand for
CFR Cost and Freight "Cost and Freight " means that the seller delivers when the goods pass the ship's rail in the port of shipment.
CIF Cost, Insurance and Freight "Cost, Insurance and Freight" means that the seller delivers when the goods pass the ship's rail in the port shipment.
CIP Carraige and Insurance paid to "Carraige and Insurance paid to..."means that the seller deliveres the goods to the carrier naminated by him, but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination.
CPT Carriage paid to. "Carriage paid to..." Means that the seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination.
DAF Delivered at Frontier "Delivered at Frontier" means that the seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport not unloaded, cleared for export, but not cleared for import at the named point and place at the frontier, but before the customs border of the adjoining country.
DDU Delivered duty unpaid "Delivered duty unpaid" means that the seller delivers the goods to the buyer, not cleared for import, and not unloaded from any arriving mens of transport at the named place of destination.
DEQ Delivered Ex Quay "Delivered Ex Quay" means that the seller delivers when the gods are placed at the disposal of the buyer not cleared for import on the quay (wharf) at the named port of destination.
DES Delivered Ex Ship "Delivered Ex Ship" means that the seller delivers when the goods are placed at the disposal of the buyer on board the ship not cleared for import at the named port of destination.
EXW Ex works "Ex works" means that the seller delivers when he places the goods at the disposal of the buyer at the seller's premises or another named place (i.e. Works, factory, warehouse, etc.) not cleared for export and not loaded on any collecting vehicle.
FAS Free Alongside Ship "Free Alongside Ship" means that the seller delivers when the goods are placed alongside the vessel at the named port of shipment. This means that the buyer has to bear all costs and irsks of loss of or damage to the goods from that moment.
FCA Free Carrier Free Carrier" means that the seller delivers the goods, cleared for export, to the carrier nominated by the buyer at the named place. It should be noted that the chosen place of delivery has an impact on the obligations of loading and unloading the goods at that place.
FOB Free on Board "Free on Board" means that the seller delivers when the goods pass the ship's rail at the named port of shipment.