Shipping - Cost and Payment Terms and Conditions (TERMS)

FOB, CFR ...

AbbrMethodComment
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 clears the goods for export at named destination - but before the customs
DDP Delivered Duty paid seller deliver the goods at named destination - pays charges of delivering the goods to be cleared at custom
DDU Delivered Duty Unpaid seller deliver the goods at named destination
DES Delivered Ex Ship seller deliver 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 deliver 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 clears the goods for export at named port of shipment

Related Topics

  • Economics - Engineering economics - cash flow diagrams, present value, discount rates, internal rates of return - IRR, income taxes, inflation

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