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  • Changes in Incoterms

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    Aman Rai
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    The document discusses changes to incoterms rules for international commercial terms. It notes that for FCA terms, the main change is that the buyer now bears costs of insurance, land transport, sea transport, and import charges rather than the seller. For CFR terms, the key change is risk now passes from seller to buyer when goods are on board the vessel rather than delivery. It also introduces new DAP, DAT, and DDP terms and outlines which party bears risks and costs under each.

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    The document discusses changes to incoterms rules for international commercial terms. It notes that for FCA terms, the main change is that the buyer now bears costs of insurance, land transport, sea transport, and import charges rather than the seller. For CFR terms, the key change is risk now passes from seller to buyer when goods are on board the vessel rather than delivery. It also introduces new DAP, DAT, and DDP terms and outlines which party bears risks and costs under each.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato DOCX, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    19 visualizzazioni4 pagine

    Changes in Incoterms

    Caricato da

    Aman Rai
    The document discusses changes to incoterms rules for international commercial terms. It notes that for FCA terms, the main change is that the buyer now bears costs of insurance, land transport, sea transport, and import charges rather than the seller. For CFR terms, the key change is risk now passes from seller to buyer when goods are on board the vessel rather than delivery. It also introduces new DAP, DAT, and DDP terms and outlines which party bears risks and costs under each.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato DOCX, PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    di 4

    Major Changes is only in Transfer of Risk and Charges FCA

    Prices 1.1- No change 1.2- No change In Incoterms 2010 FCA, the seller pays the fees and charges up to stuffing the cargo into the container but insurance + land transport + sea transport + landing charges at POD up to place of delivery are payable by the buyer. Seller Must obtain at its own risk and expense, any export license or other official authorization and carry out all custom formalities required for export of the good FOB 2.2 Charges till on board 5.0 Risk and Title The risk shall pass from the seller to the buyer as soon as the seller place the goods on board the vessel.

    CFR 5.0 Risk and Title The risk shall pass from seller to buyer when the seller delivers the goods on board the vessel.(Rest things are same)

    DAP (Replacment of DAF and DDU) DELIVERED AT TERMINAL means that the seller delivers when the once unloaded from the arriving means of transport are placed at the disposal of the buyer at the named terminal at the named port or place of destination .Terminal includes any place whether covered or not such as quay, warehouse ,container yard, or road, rail or air cargo terminal Risk: The seller bears all the risks involved in bringing the goods to and unloading them at the terminal at the named port or place of destination.

    DAT (Replacement of DES and DEQ) DELIVERED AT PLACE means that the seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination . Risk : The seller bears all risks involved in bringing the goods to the named place. Goods are cleared for export

    DDP(Delivery Duty Paid) DELIVERED DUTY PAID means that the seller delivers the goods when the goods are placed at the disposal of the buyer , cleared for imports on the arriving means of transport ready for unloading at the named place of destination . Risk: The seller bears all the costs and risks involved in bringing goods to the place of destination and has an obligation to clear the goods not only for export but also imports , to pay any duty for both export and import and to carry out all custom formalities.

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