Shipping and Payment Terms

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• CFR (Cost and Freight) - seller pays the costs necessary to bring the goods to named port of destination
• CIF (Cost, Insurance and Freight) - same as CFR but in addition the seller includes marine insurance loss or damage to goods during shipment
• CIP (Carriage and Insurance Paid To) - same as CPT, but in addition the seller includes insurance loss of or damage to the goods during carriage
• CPT (Carriage Paid To) - seller pays freight to named destination
• DAF (Delivered At Frontier) - seller cleares the goods for export at named destination - but before the customs
• DDP (Delivered Duty paid) - seller deliveres the goods at named destination - pays charges of delivering the goods to be cleared at custom
• DDU (Delivered Duty Unpaid) - seller deliveres the goods at named destination
• DES (Delivered Ex Ship) - seller deliveres the goods on board the ship, uncleared for import at named destination - seller pays to bring the goods to named destination
• DEQ (Delivered Ex Quay, [Duty Paid]) - seller deliveres the goods at named destination -  cleared for importation
• EXW (Ex Works) - seller makes the goods available at his premises
• FAS (Free Alongside Ship) - seller sends the goods to alongside the vessel - or in the named port of shipment
• FCA (Free Carrier) - seller hands over the goods cleared for export to the charge of the carrier named by the buyer at named place
• FOB (Free On Board) - seller cleares the goods for export at named port of shipment

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Related Topics

• Economics - Engineering economic concepts - cash flow diagrams, discount rate, internal rate of return - IRR, income taxes, inflation

Related Documents

• Discount Rates - Single and multiple discounts