BEMAR, international logistics operator
Tools for international trade
What are the Incoterms® rules?
The Incoterms rules, published by the International Chamber of Commerce (ICC), are intended to define the rights and obligations of the parties involved in the sale of a product with regard to these five aspects:
- Obligations assumed by the buyer and seller according to what was agreed upon in the contract of sale.
- Costs assumed by each party in relation to the contracting of transport and other logistics chain operations.
- Which party assumes the insurance of the merchandise, in the event that it has been contracted, and the extent of the insurance coverage.
- Which party is required to look after customs clearance in the event that it is necessary.
- Place and time of the delivery of the merchandise and transfer of risk from the seller to the buyer.
Incoterms®2010 multimodal rules
The Incoterms multimodal rules are suitable for all sales transactions that involve road, rail, air or multimodal transport, including multimodal container transport with a sea transport phase as well as a combination of any of these modes (except maritime port to port). These rules are as follows:
- EXW (ex works)
- FCA (free carrier)
- CPT (carriage paid to)
- CIP (carriage and insurance paid to)
- DAT (delivered at terminal)
- DAP (delivered at place)
- DDP (delivered duty paid)
The Incoterms ® 2010 rules for maritime transport
This group of Incoterms rules for maritime transport and inland waterways is suitable for all sales transactions that involve the transport of general cargo that is uncontainerized, partial load, bulk, etc., from port to port. It comprises four rules:
- CFR cost and freight.
- FOB free on board.
- FAS free alongside ship.
- CIF cost, insurance and freight.
