We offer the following incoterms for shipping.
EXW (Ex Works) Incoterms
The seller is only required to deliver goods at a predetermined location, and the buyer bears responsibility for shipping costs. Along with these costs, the buyer assumes responsibility for the related risks of the goods which may include anything from customs regulations to loading and transferring to other ships.
This is applicable to both air and sea freight.
FOB (Free On Board)
The seller is responsible for the goods until they are delivered to the port, and the buyer is responsible for freight charges. If the terms include “FOB destination, freight prepaid,” the seller is responsible for goods until delivered, provided there are no insurance claims. In this scenario, the seller is responsible for the freight charges.
This is applicable to both air and sea freight.
CNF (Cost and Freight)
The seller organises the loading and transporting of goods all the way to the destination port. The seller is responsible for the transportation cost of freight to the final port.
The risk of the goods being damaged on lost stops being the seller’s responsibility from the time the products are loaded onto the vessel. During transit and unloading of the goods, the buyer assumes the risk and must organise adequate insurance.
This is applicable to both air and sea freight.
CIF (Cost, Insurance, and Freight) Incoterms The seller is responsible for paying the costs and freight shipping necessary to bring the goods to the destination port, in addition to buying insurance against the risk of loss or damage of the goods. This is applicable to both air and sea freight.
DDP (Delivered Duty Paid) Incoterms The seller is responsible for handling the risks and costs of the shipment, including import duty, freight, and any other charges related to delivery. This is applicable to any mode of transportation (air freight, road, sea freight.)