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INTERNATIONAL COMMERCIAL TERMS
Fashion Merchandising
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Export documentation &
Trade terms(INCO terms)
International Commercial Terms
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Incotermsor( International Commercialterms)
Incotermsor International Commercialtermsare a series of international saleswith terms pu!lished !" International
Cham!er of Commerce (ICC) and widel"used in international commercialtransactions#
These are accepted !" go$ernments legalauthorities and practitioners worldwide forthe interpretation of most commonl" used
terms in international trade#
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Incotermsor(International Commercial terms)
This reduces or remo$es altogetheruncertainties arising from di%erentinterpretation of such terms in di%erentcountries#
cope of this is limited to matters relating torights and o!ligations of the parties to thecontract of sale with respect to the deli$er" ofgoods sold#
The" are used to di$ide transaction costs andresponsi!ilities !etween !u"er and seller andre'ect stateoftheart transportation practices#
The" closel" correspond to the #N# Con$ention
on Contracts for the International ale of *oods
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INCO TE+M
INCOTERMSare most fre-uentl"listed !" categor"#
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International Commercial Terms( INCOTERMS )
GROUP TERM Stands for
E E./ Ex /or0s
F FC1 Free Carrier
F1 Free 1longside hip
FO2 Free On 2oard
C CF+ Cost and Freight
CIF Cost Insurance and Freight
C3T Carriage 3aid To
CI3 Carriage and Insurance 3aidTo
D 41F 4eli$ered 1t Frontier
4E 4eli$ered Ex hip
4E5 4eli$ered Ex 5ua"
44 4eli$ered 4ut" npaid
4434eli$ered 4ut" 3aid
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5ua"1 concrete stone or metal platform l"ing alongsideor pro6ecting into water for loading and unloading ships
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INCO terms( InternationalCommercial Terms)
Terms !eginning withF refer toshipments where the primar" cost ofshipping is not paid for !" the seller#
Terms !eginning with Cdeal withshipments where the seller pa"s forshipping#
Eterms occur when a seller7sresponsi!ilities are ful8lled whengoods are read" to depart from their
facilities
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INCO TE+M 4 terms co$er shipments where the
shipper9seller7s responsi!ilit" ends whenthe goods arri$e at some speci8c point#
2ecause shipments are mo$ing into a
countr" 4 terms usuall" in$ol$e theser$ices of a customs !ro0er and afreight forwarder#
In addition 4terms also deal with the
pier or doc0ing charges found at $irtuall"all ports and determining who isresponsi!le for each charge#
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Incoterms 2000
:; terms of
Incoterms
E series
EX
F series
F!S
FO"
FC!
C series
CFR
CIF
CPT
CIP
D series
D!FDES
DE#
DDU
DDPShipment contract-(Risk transfers to importer
within export country
-Promise to make shipment
NOT an arrival
Arrival contract
-(Risk transfers to importer
within import country
- Promise for an arrival of
the goods
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