Incoterms Terms of BharatTradeHub™ by Friendlovely LLP

1. EXW (Ex-Works) - Ex-Works Delivery/Incoterms Terms:

In Ex-Works delivery terms, also known as EXW, the importer assumes the most extensive responsibilities and costs. The exporter only makes the goods available for pickup at their premises or another named place, and the importer is responsible for all subsequent processes and charges. Here are the full details of EXW delivery terms:

1. Exporter Responsibilities:

  • Making the goods available at the specified location.
  • Providing necessary documentation for the goods.
  • Assisting with loading if applicable.

2. Importer Responsibilities:

  • Container booking.
  • Customs charges.
  • Insurance charges.
  • Import duty charges.
  • Transport charges.
  • Terminal charges.
  • Loading charges.
  • Delivery to the port of origin.
  • Customs export fees.
  • Loading on carriage.
  • Carriage charges.
  • Destination delivery.
  • Unloading at destination.
  • Any additional costs incurred during the process.

2. FOB (Free On Board) - FOB Delivery/Incoterms Terms:

In FOB delivery terms, the exporter is responsible for delivering the goods to the named port of shipment and loading them onto the vessel. However, the importer bears the responsibility for arranging transportation and insurance. Here are the full details of FOB delivery terms:

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1. Exporter Responsibilities:

  • Delivery of goods to the named port of shipment.
  • Loading the goods onto the vessel.
  • Providing necessary export documentation.

2. Importer Responsibilities:

  • Container booking.
  • Transport from the exporter's premises to the port of shipment.
  • Insurance coverage for the goods during transit.
  • Import duties and taxes.
  • Customs clearance at the destination port.
  • Unloading at the destination port.
  • Any additional costs incurred during the process.

3. CIF (Cost, Insurance, Freight) - CIF Delivery/Incoterms Terms:

In CIF delivery terms, the exporter takes responsibility for delivering the goods to the destination port and covers the cost of insurance. The importer's obligations primarily involve receiving the goods at the destination port. Here are the full details of CIF delivery terms:

1. Exporter Responsibilities:

  • Booking the container.
  • Providing insurance coverage for the goods during transit.
  • Delivery of goods to the destination port.
  • Loading charges.
  • Export duty, taxes, and customs clearance.
  • Origin terminal charges.
  • Loading on carriage.
  • Carriage charges.

2. Importer Responsibilities:

  • Destination terminal charges.
  • Transport from the destination port to the final destination.
  • Unloading at the final destination.
  • Import duties and taxes.
  • Customs clearance at the destination port.
  • Any additional costs incurred during the process.