Popularize International Trade Terms

FOB :is theFree on Board,its Chinese meaning"FOB (....named port of shipment)". In this terminology, the seller shall be responsible for handling the export clearance procedures, deliver the goods to the buyer’s designated ship within the contracted port of shipment and within the prescribed time limit, bear all risks of the goods before crossing the ship's rail at the port of shipment, and promptly inform the buyer.

The risk transfer rules in this article have been amended by the "International Trade Term Explanation General Rules for 2010 ". After the shipments are loaded on board, the risk will be transferred to the buyer. (Because of the risk transfer across the ship's rails as stipulated in the General Regulations in 2000 , it is not convenient to pass the ship's rails for proof, so it is modified.)

C & F :that is,"Cost and Freight"abbreviation, its Chinese meaning of"cost and freight"to use the term, the seller is responsible for the usual conditions of a charter booking and payment of the freight port of destination, the port of shipment and stipulated in the contract The shipment deadline will load the ship and inform the buyer.

CIF : Theabbreviation of"Cost Insurance and Freight", which means"cost plus insurance premium, freight" | in Chinese. In this terminology, the seller is responsible for booking and paying the freight to the port of destination on normal terms, loading the goods on board the ship at the port of shipment and during the contractual period of shipment, and is responsible for the insurance of cargo transportation and payment of insurance premiums.

FCA :namely"Free Carrier"abbreviation, its Chinese meaning is"FCA". Using this terminology, the seller is responsible for handling customs clearance procedures for goods, and at the time and place specified in the contract, the goods will be delivered to the carrier designated by the buyer and the buyer notified in a timely manner.

CPT :namely"Carriage Paid to"the abbreviation of its Chinese meaning"carriage paid to named place of destination" ,the term is used, the seller shall enter into a contract of carriage at their own expense and pay the goods to the named destination. After handling the goods export clearance procedures, the goods will be delivered to the carrier at the appointed time and the designated shipping location, and the buyer shall be informed promptly.

CIP :namely"Carriage and Insurance Paid to"abbreviation, Chinese meaning"Carriage and Insurance Paid to the designated destination". Using this terminology, the seller should enter into a transportation contract at his own expense and pay the freight for the goods to their destination, be responsible for applying insurance procedures and paying insurance premiums. After handling the customs clearance procedures for goods exported, the goods are delivered to the carrier for care at the designated shipping location to fulfill their delivery obligations.

EXW :is theabbreviation of"EX Works"and its Chinese meaning is"factory delivery (designated place)". In this terminology, the seller is responsible for placing the goods at the buyer's disposal at his premises (factory, workshop, warehouse, etc.) The delivery obligation is fulfilled immediately below.

FAS :namely"Free Alongside Ship"abbreviation, Chinese meaning"Free Alongside Ship (named port of shipment)". In this terminology, the seller is responsible for completing the delivery by placing the goods at the port of shipment on the dock or barge near the ship. Eliv

DAT: ie, "Delivered At Terminal (insert named terminal port or place of destination) its Chinese meaning " transportation terminal delivery " . Use the goods to the seller the contract within the term stipulated in the contract date or period or destination port The ground transportation terminal, and the goods removed from the arrival of the carrier vehicle, to the buyer to complete the delivery.

DAP: ie, "Delivered At Place" ( insertnamed of Place Where do you want ), FOB Destination (insert named port of destination). In this terminology, the seller must enter into a contract of carriage to pay for the freight that would have occurred if the goods were delivered to a designated destination or to an agreed point within the designated destination; the goods in accordance with the contract were placed on the arriving means of transport at the designated destination. The delivery is completed upon delivery to the buyer.

DDU : The English term for this term is "Delivered Duty Unpaid ( ...named place of destination ) " , which means " unpaid delivery ( ... specify destination) " . It means that the seller will prepare the goods for delivery at the place designated by the importing country and bear all costs and risks (excluding duties , taxes, and other official expenses to be paid upon delivery) for the goods to be transported to the designated place. The cost and risk of handling customs procedures. The buyer must bear the additional costs and risks caused by failing to handle the customs clearance of the goods in time . This term applies to all modes of transportation.

DDP : The English term for this term is "Delivered Duty Paid ( ...named place of destination ) " , which is " Delivery after delivery ( ... Specify destination) " . It means that the seller delivers the prepared goods at the designated place of the importing country, and bears all costs and risks of transporting the goods to the designated place, and handles import customs clearance . This term can be applied to various modes of transportation.