Shipping
FOB
(Free on Board)
- The seller delivers the goods on board the vessel
nominated by the buyer at the named port of shipment or procures the goods
already so delivered.
- The risk of loss of or damage to the goods passes
when the products are on board the vessel. The buyer bears all costs
from that moment onwards.
CFR (Cost and Freight)
The seller delivers the goods on board the vessel or procures the goods
already so delivered.
- The risk of loss of or damage to the goods passes
when the products are on board the vessel.
- The seller must contract for and pay the costs
and freight necessary to bring the goods to the named port of destination.
CIF (Cost, Insurance and Freight)
The seller delivers the goods on board the vessel or procures the goods
already so delivered. The risk of loss of or damage to the goods passes when
the products are on the ship.
- The seller must contract for and pay the costs
and freight necessary to bring the goods to the named port of destination.
- The seller also contracts for insurance cover
against the buyer’s risk of loss of or damage to the goods during the
carriage.
DDP (Delivered Duty Paid) (for US market only)
- The seller delivers the goods when the goods are
placed at the disposal of the buyer, cleared for import on the arriving
means of transport ready for unloading at the named place of destination.
- The seller bears all the costs and risks involved
in bringing the goods to the place of destination. They must clear
the products not only for export but also for import, to pay any duty for
both export and import and to carry out all customs formalities.