Incoterms

Tools/Incoterms

Adaptation of this terminology has been popular over the years. Here are some of the more common ones. We are including others as well: • Delivery: The point in the transaction where the risk of loss or damage to the goods is transferred from the seller to the buyer • Arrival: The point named in the Incoterm to which carriage has been paid • Free: Seller has an obligation to deliver the goods to a named place for transfer to a carrier • Carrier: Any person who, in a contract of carriage, undertakes to perform or to procure the performance of transport by rail, road, air, sea, inland waterway or by a combination of such modes • Freight forwarder: A firm that makes or assists in the making of shipping arrangements; • Terminal: Any place, whether covered or not, such as a dock, warehouse, container yard or road, rail or air cargo terminal • To clear for export: To file Shipper’s Export Declaration and get export permit