Since 1936 the INCOTERMS codes are used in commercial business being the most usefull the following:
- Exworks
This code means that the seller responsability finish when he places the goods at the disposal of the buyer at the seller's premises , in this circunstancies the goods are not cleared for export . The buyer has to support all costs and risks involved to pick up the goods from the seller's premises.
- FOB:s
The sellers responsability stoped, when the goods pass the ship's rail at the agreed port of shipment. The buyer has to take all costs and risks of loss of or damage of the goods from that point.
- CIF:s
This Cost , Insurance and Freight code means that the seller responsability finished when the goods pass the ship's rail in the port of shipment. The seller must pay all expenses including freight to bring the goods to the port of destination.
In case of interest we suggest consult one of the several Sites about this matter , for instance:
www.proqc.com.