Answer to Question #312132 in Management for Kumarip

Question

explain various INCOTERMS published by International Chamber of Commerce, that make it easier for

a common interpretation

Answer 1

Incoterms rules are a set of standards rules used worldwide in international and domestic contracts for the delivery of goods. There are 11 incoterms rules published by the international chamber of commerce which includes

1. Ex workers ( EXW) used to insert place of delivery.

2. Free carrier ( FCA) is used to insert a delivery name.

3. Carriage and insurance paid to ( CIP) show the place to insert place of destination.

4. Delivery at a place( DAP) indicate a place to insert a named place of destination.

5. Carriage paid to ( CPT) shows a place to insert destination.

6. Delivery duty paid ( DDP) is used to insert the place of destination.

7. Delivered at place unloaded ( DPU) to insert a place of destination

8. cost insurance and freight ( CIF) are used to insert named parts of the destination.

9. Free alongside ship( FAS) is used to insert the name of part of the loading.

10. Cost and freight ( CFR) to insert named part destination

11. Free on board( FOB) insert named part of loading