{"id":22869,"date":"2020-09-16T15:11:14","date_gmt":"2020-09-16T14:11:14","guid":{"rendered":"https:\/\/www.ademar.nl\/what-are-incoterms\/"},"modified":"2020-09-16T15:13:42","modified_gmt":"2020-09-16T14:13:42","slug":"what-are-incoterms","status":"publish","type":"post","link":"https:\/\/www.ademar.nl\/en\/what-are-incoterms\/","title":{"rendered":"What are Incoterms?"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]Incoterms (International Commercial Terms) are a collection of internationally agreed standards on the rights and obligations of buyers and sellers in import and export.\u00a0Incoterms are not in themselves a contract, but terms of delivery.\u00a0They clarify a sales contract for both parties and define who arranges insurance and permits, who arranges transport to where and when the costs and risks are borne by the buyer.\u00a0Incoterms are developed by the International Chamber of Commerce.\u00a0A new list has been published in 2020.<\/p>\n

The list of Incoterms<\/b><\/h2>\n
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      • EXW, Ex Works:\u00a0the goods are immediately at the buyer’s risk\u00a0ex works\u00a0.\u00a0The buyer is responsible for getting the goods to their destination.<\/li>\n
      • FCA, Free Carrier:\u00a0the seller delivers the goods ready for export to a carrier chosen by the buyer.<\/li>\n
      • CPT, Carriage Paid To:\u00a0Same as FCA, but seller also pays for delivery charges.<\/li>\n
      • CIP, Carriage and Insurance Paid To:\u00a0Same as CPT, but seller also pays for insurance of the goods.<\/li>\n
      • DPU, Delivered At Place Unloaded:\u00a0the seller delivers the goods to an agreed place such as a terminal and also arranges customs clearance.<\/li>\n
      • DAP, Delivered At Place:\u00a0Same as DPU, but goods are unloaded at buyer’s expense.<\/li>\n
      • DDP, Delivered Duty Paid:\u00a0The seller delivers the goods to the buyer’s country and pays all taxes.\u00a0Until unloading, the seller is responsible.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

        The following 4 terms are aimed at sea and inland water transport:<\/p>\n

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        • \n
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          • FAS, Free Alongside Ship:\u00a0the seller delivers the goods to the carrier’s ship.\u00a0The buyer must arrange the export documents.<\/li>\n
          • FOB, Free On Board:\u00a0the seller delivers the goods to the ship and also arranges the export documents.<\/li>\n
          • CFR, Cost And Freight:\u00a0Same as FOB, but the seller should also pay for the transportation to the destination port.<\/li>\n
          • CIF, Cost, Insurance and Freight:\u00a0Same as CFR, but the seller arranges and pays for insurance of the goods in transit.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

            The convenience of Incoterms<\/b><\/h2>\n

            The Incoterms have been developed to remove ambiguities in international transport contracts.\u00a0You can clearly see from the list of Incoterms that the degree of responsibility for the buyer is increasing.\u00a0At EXW, the buyer assumes almost all obligations, while at DDP the seller arranges almost all processes.\u00a0In a negotiation it is therefore important to find a compromise.<\/p>\n

            The cons of Incoterms and the solution<\/b><\/h2>\n

            If you are a small party importing goods from, for example, China, it is likely that you do not have the network and the know-how to get goods to the Netherlands.\u00a0A large manufacturer in China may have the means to get your goods to the EU, but certainly not fully cleared.\u00a0And a manufacturer will not want to do the transport for a rock-bottom price, certainly not for a relatively small shipment.\u00a0This is where the benefit of a customs broker comes into play.\u00a0A forwarding agent is an intermediary who, by means of techniques (such as groupage), can get goods in the Netherlands that are immediately ready for sale.\u00a0The forwarder arranges transport, customs clearance and taxes.\u00a0You get a clear overview of the costs and you are free of all worries.\u00a0Ademar BV\u00a0from Rotterdam is adept at this.\u00a0We have 40 years of experience and built up a network that you as an entrepreneur can benefit from.\u00a0We can realize profitable imports.\u00a0Call or email Ademar BV.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

            [vc_row][vc_column][vc_column_text]Incoterms (International Commercial Terms) are a collection of internationally agreed standards on the rights and obligations of buyers and sellers in import and export.\u00a0Incoterms are not in themselves a contract, but terms of delivery.\u00a0They clarify a sales contract for both parties and define who arranges insurance and permits, who arranges transport to where and when…<\/p>\n","protected":false},"author":2,"featured_media":22859,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47,83],"tags":[],"class_list":["post-22869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-importing-goods","category-shipping-goods","category-47","category-83","description-off"],"yoast_head":"\nWhat are Incoterms? - Ademar BV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ademar.nl\/en\/what-are-incoterms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are Incoterms? 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