INCO Terms 2010 Rules
The INCO Terms 2010
Rules is a Globally Registered Trading Terms issued by the international chamber of
commerce (ICC) and are used for purchase and shipping of goods in the international
market places.
There are in total 11 Rules in the INCO Terms 2010, which are regulating the
International Trading Obligations between the Seller and Buyer for the delivery of
goods, the costs, the transfer of risks and cargo insurances.
For quick guidance
showing all INCO Terms Rules Please click at INCO TERMS 2010 REFERENCE CHART
For Full definitions on every INCO Terms Rules, Below please select and click on
the
Terms.
“Ex Works” means that the seller delivers when it places the goods at the
disposal of the buyer at the seller’s premises or at another named place
(i.e.,works,
factory, warehouse, etc.). The seller does not need to load the goods on any collecting
vehicle, nor does it need to clear the goods for export, where such clearance is
applicable
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Buyer |
| Export Clearance |
Buyer |
| Inland Freight |
Buyer |
| Origin Terminal Charges |
Buyer |
| Insurance |
Buyer |
| Loading On Vessel |
Buyer |
| Payment Of Freight |
Buyer |
| Forwarder's Fees |
Buyer |
| Arrival THC & Charges |
Buyer |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Free Carrier” means that the seller delivers the
goods
to the carrier or another person nominated by the buyer at the seller’s premises
or
another named place. The parties are well advised to specify as clearly as possible the
point within the named place of delivery, as the risk passes to the buyer at that point.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Buyer |
| Insurance |
Buyer |
| Loading On Vessel |
Buyer |
| Payment Of Freight |
Buyer |
| Forwarder's Fees |
Buyer |
| Arrival THC & Charges |
Buyer |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Free Alongside Ship” means that the seller delivers
when the goods are placed alongside the vessel (e.g., on a quay or a barge) nominated
by
the buyer at the named port of shipment. The risk of loss of or damage to the goods
passes when the goods are alongside the ship, and the buyer bears all costs from that
moment onwards.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Buyer |
| Loading On Vessel |
Buyer |
| Payment Of Freight |
Buyer |
| Forwarder's Fees |
Buyer |
| Arrival THC & Charges |
Buyer |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Free On Board” means that 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 goods are on board the vessel, and the buyer bears all costs from that
moment
onwards.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Buyer |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Buyer |
| Forwarder's Fees |
Buyer |
| Arrival THC & Charges |
Buyer |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Carriage Paid To” means that the seller delivers
the goods to the
carrier or another person nominated by the seller at an agreed place (if any such place
is
agreed between parties) and that the seller must contract for and pay the costs of
carriage
necessary to bring the goods to the named place of destination.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Buyer |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Seller |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Cost and Freight” means that 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 goods 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.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Buyer |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Buyer |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Cost, Insurance and Freight” means that 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 goods 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.
‘The seller also contracts for insurance cover against the buyer’s risk of
loss
of or damage to the goods during the carriage. The buyer should note that under CIF
the
seller is required to obtain insurance only on minimum cover. Should the buyer wish to
have more insurance protection, it will need either to agree as much expressly with the
seller or to make its own extra insurance arrangements.”
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Seller |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Buyer |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Carriage and Insurance Paid to” means that the seller
delivers the goods to the carrier or another person nominated by the seller at an agreed
place (if any such place is agreed between parties) and that the seller must contract for
and
pay the costs of carriage necessary to bring the goods to the named place 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. The buyer should note that under CIP
the
seller is required to obtain insurance only on minimum cover. Should the buyer wish to
have more insurance protection, it will need either to agree as much expressly with the
seller or to make its own extra insurance arrangements.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Seller |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Seller |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Delivered at Terminal” means that the seller
delivers
when the goods, once unloaded from the arriving means of transport, are placed at the
disposal of the buyer at a named terminal at the named port or place of destination.
“Terminal” includes a place, whether covered or not, such as a quay,
warehouse, container yard or road, rail or air cargo terminal. The seller bears all risks
involved in bringing the goods to and unloading them at the terminal at the named
port or
place of destination.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Seller |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Seller |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Buyer |
| Delivery to Destination |
Buyer |
“Delivered at Place” means that the seller delivers
when the goods are placed at the disposal of the buyer on the arriving means of
transport
ready for unloading at the named place of destination. The seller bears all risks
involved in
bringing the goods to the named place.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Seller |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Seller |
| Destination Duty & Taxes |
Buyer |
| Customs Broker Fee |
Seller |
| Delivery to Destination |
Seller |
“Delivered Duty Paid” means that 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 and has an obligation to clear the goods not only for export but also for
import,
to pay any duty for both export and import and to carry out all customs formalities.
| Export Packing |
Seller |
| Marking & Labeling |
Seller |
| Loading Charges |
Seller |
| Export Clearance |
Seller |
| Inland Freight |
Seller |
| Origin Terminal Charges |
Seller |
| Insurance |
Seller |
| Loading On Vessel |
Seller |
| Payment Of Freight |
Seller |
| Forwarder's Fees |
Seller |
| Arrival THC & Charges |
Seller |
| Destination Duty & Taxes |
Seller |
| Customs Broker Fee |
Seller |
| Delivery to Destination |
Seller |