How many incoterms are there?
8
4
12
11
Incoterms rules are used for communicate and delimit tasks, cost and risk linked with transportation and delivery of goods.
With this term, the seller has minimum obligation and buyer must bear all costs and risk involved on pick up and transportation of goods from seller’s premises.
EXW
FCA
DAP
With DDP the seller delivers the goods cleared for export to the nominated carrier at the named place. The buyer must nominate the carrier.
The following Incoterms are designed specifically for maritime transportation
FAS, FOB, CFR, CIF
CIF, CIP, DAT, DAP
EXW, FCA, DDP, CIF
The seller pays for transportation costs as well as clearance and duties to a specified location. When the goods are cleared for import, the risks are transferred.
DDP
DAT
The possibility that an event may occur which could cause loss of or damage to the goods is a :
Uncertainty
Risk
Unpredictability
Buyers and sellers can protect themselves against risk by transport- insurance
