Key:
	SELLER's obligation
	BUYER's obligation

INCOTERMS 2000 - Short description of terms

EXW
Ex-works...named place
The seller is free from any responsibilities when cargo is at buyer's disposal at
seller's premises.
The buyer has to organize the transport from the seller's premises to the port, the
export procedures, the shipment by vessel/air, and the import procedures as well.

FOB
Free On Board...named port of loading
The seller has to arrange export procedures, transport to the port and loading cargo
on board the vessel.
Once cargo delivered on board the vessel, all risks and transportation charges pass
on buyer, including cargo insurance.

CNF (Also referred to as "CFR" or "C&F")
Cost and Freight...named port of destination
The seller has to organize and pay all transportation charges to the port of
destination, excluding cargo insurance.

CIF...named port of destination
Cost, Insurance and Freight...named port of destination
In addition to CNF, the seller is responsible for cargo insurance.

DDU
Delivered Duty Unpaid...named place of delivery
The seller is obligated to organize transport to final place of delivery, excluding only
import custom procedures which is on buyer's account.

DDP
Delivered Duty Paid...named place of delivery
In addition to DDU, the seller is responsible for import custom procedures including
payment of import duty and tax at the destination. The buyer has to pay just for the
amount on the commercial invoice.

For more details, please contact our office.