first, the factory delivery price ( Exw=ex Works ):
Place of delivery: the factory or warehouse of the exporting country;
Transport: buyer's responsibility;
Insurance: buyer's responsibility;
export formalities: the buyer is responsible;
Import formalities: the buyer is responsible;
Risk Transfer: Place of delivery;
Transfer of ownership: transfer with the sale;
ii. FOB Price (Fob=free onborad):
Place of delivery: port of shipment;
Transport: buyer's responsibility;
Insurance: buyer's responsibility;
Export formalities: the seller is responsible;
Import formalities: the buyer is responsible;
risk transfer: The ship's rail;
Transfer of ownership: Transfer with the delivery of the bill;
Three, CIF (cost + freight + insurance,cif=cost+insurance+freight) :
Place of delivery: port of shipment;
Transport: the seller is responsible;
Insurance: the seller is responsible;
Export formalities: the seller is responsible;
Import formalities: the seller is responsible;
risk transfer: The ship's rail;
Transfer of ownership: Transfer with the delivery of the bill;
iv. Cost and freight (cfr=cost+freight):
Place of delivery: port of shipment;
Transport: the seller is responsible;
Insurance: buyer's responsibility;
Export formalities: the seller is responsible;
Import formalities: the buyer is responsible;
risk transfer: The ship's rail;
Transfer of ownership: Transfer with the delivery of the bill;
FOB,CIF,CFR These three kinds of foreign trade quotation methods in common:
The seller is responsible for loading and giving full notice, the buyer is responsible for receiving goods;
The Seller handles the export formalities, provides the documents, the buyer handles the import formalities, and provides the documents;
The seller pays the bill, the buyer is subject to a single payment;
At The port of shipment, the risks and expenses are divided in accordance with the ship's rail.
for the same nature of delivery, are voucher delivery, voucher payment;
are suitable for marine transport and inland waterway transport;
FOB,CIF,CFR These three kinds of foreign trade quotations between the different points:
On theFOB: The buyer is responsible for chartering the booking, to pay the freight, insurance, payment insurance;
On CIFbasis: The seller is responsible for chartering and booking, prepaid freight, insurance and payment of insurance;
,CFR: The seller is responsible for chartering the booking, prepaid freight, the buyer is responsible for insurance, payment insurance;
Fob:free on Board ship on board delivery is applicable to sea and inland waterway transport.
cif:cost Insurance and Freight cost plus insurance freight applicable to sea and inland waterway transport.
DDU delivered Duty unpaid duty unpaid delivery (... Designated destination) means the seller at the designated destination to dispose of the goods to the buyer, not to import formalities, nor to unload the goods from the means of delivery, i.e. to complete the delivery.
Fca:free Carrier Carrier is suitable for any mode of transport, including multimodal transport.
EXW is the ex work, i.e. the factory delivery price. You only need to prepare the goods and other customers to arrange the carrier to pick up.
In short, it means:
EXW Seller Factory Delivery
FAS designated port of shipment vessel side delivery
FOB designated Port of shipment on board delivery
FCA Cargo Carrier
CFR cost plus freight
CPT Shipping is paid to
CIF cost plus freight insurance
CIP Freight, insurance paid to
DES Port of destination on board delivery
DAF Frontier Delivery
DEQ Port of destination Wharf delivery
delivery after DDP duty paid
DDU delivery without duty paid
EXW_FOB_CIF_CFR the difference between the foreign trade quotation method & Terms and the relation