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单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,2021/10/3,#,Chapter 5 International Trade Terms,Meaning of trade terms,Role of international trade terms,International trade usages,A guide to Incoterms,1/76,Meaning of international trade terms,Definition:trade terms(price terms/delivery terms)are an important component of a unit price in international trade,standing for specific obligations of the buyer and the seller.,They are abbreviations used to indicate the formation of the unit price and determine the responsibilities,expenses and risks borne by two parties as well as the time of the passing of the property in the goods.,examples:,US$750 per dozen,CIF,New York,FFR1000 per M/T,CFR,Marseille,2/76,Meaning of international trade terms,Definition:trade terms(price terms/delivery terms)are an important component of a unit price in international trade,standing for specific obligations of the buyer and the seller.,They are abbreviations used to indicate the formation of the unit price and determine the responsibilities,expenses and risks borne by two parties as well as the time of the passing of the property in the goods.,examples:,US$750 per dozen,CIF,New York,FFR1000 per M/T,CFR,Marseille,3/76,Role of international trade terms,Naming the exact point at which the ownership of the merchandise is transferred from the seller to the buyer.,Defining the responsibilities and expenses of both the seller and the buyer.,Simplifying negotiations,Saving time and cost,4/76,Responsibilities and expenses,Responsibilities include:,Carrying out customs formalities for the goods,Obtaining the import or export license,Chartering a ship or booking shipping space,Making insurance,Asking for inspection,Expenses comprise:,Freight,Loading and unloading expenses,Insurance premium,Warehouse charges,Duties and taxes,Miscellaneous expenses,5/76,International trade usages,Warsaw-Oxford Rules 1932,Revised American Foreign Trade Definitions 1941,International Rules for the Interpretation of Trade Terms,6/76,Warsaw,Oxford Rules 1932,Warsaw Rules 1928,Contains 22 clauses concerning CIF contracts,Warsaw Rules 1932,Based on Warsaw Rules 1928,contains 21 clauses concerning the nature,risks and expenses borne by both the seller and the buyer.,Still in use.,7/76,Revised American Foreign Trade Definitions 1941,Originally The US Export Quotations and Abbreviations 1919,Revised and renamed in 1941,Six trade terms:Ex Port of Origin,Ex Dock,Free on Board,Free Along Side,Cost&Freight,Cost,Insurance and Freight.,Applicable in the USA,Canada and other countries in America.,8/76,International Rules for the Interpretation of Trade Terms,Also abbreviated as Incoterms,Established by the International Chamber of Commerce(ICC)in 1936,revised in 1953,1967,1976,1980,1990 and.,Aimed at providing uniform rules for the interpretation of trade terms,Characteristics of Incoterms,9/76,Comparative Edition of the obligations of both the buyer and the seller,The sellers obligations,Provision of goods in conformity with the contract,Licenses,official documents and customs formalities,Contract of carriage and insurance,Delivery,Transfer of risks,Division of costs,Notice to the buyer,Proof of delivery,transport document or equivalent electronic message,Checking-packaging-marking,Other obligations,The buyers obligations,Payment for goods,Licenses,official documents and customs formalities,Contract of carriage and insurance,Taking delivery,Transfer of risks,Division of costs,Notice to the seller,Proof of delivery,transport document or equivalent electronic message,Inspection of goods,Other obligations,10/76,Structure of Incoterms,Group E(departure):,EXW,Group F(main carriage unpaid):,FCA;FOB;FAS,Group C(main carriage paid):,CFR;CIF;CPT;CIP,Group D(arrival):,DAF;DES;DEQ;DDU;DDP,11/76,EXW:Ex Works,工厂交货,Ex works,means that the seller fulfils his obligation to deliver when he has made the goods available at his premises(i.e.works,factory,warehouse,etc.)to the buyer.In particular,he is not responsible for loading the goods on the vehicle provided by the buyer or for clearing the goods for export.,12/76,The buyer bears all costs and risks involved in taking the goods from the sellers premises to the desired destination.This term thus represents the minimum obligation for the seller.This term should not be used when the buyer cannot carry out directly or indirectly the export formalities.This term may be written in this way:,US$100 per dozen ex works Ningbo,13/76,This is also called the departure term.Under this term,the seller only covers the cost and liabilities of the manufacture or purchase of the goods while the buyer answers for all the other costs and liabilities.So in the quotations of price by the seller,this should be the lowest as under this term,the seller has the least liabilities and risks.,14/76,This term is not only applicable to marine transportation of the goods,but also to all the other modes of transportations,including multi-modal transport(MT).,Certainly,under EXW the seller should render assistance to the buyer upon request for clearance of customs,cargo inspection,export formalities and insurance,etc.,15/76,EXW:Ex Works(,named place),The sellers obligations,Provision of goods in conformity with the contract,Cost of basic packing,Notice to the buyer,The buyers obligations,Payment for goods,Licenses,official documents and customs formalities,Contract of carriage and insurance,Taking delivery,Proof of delivery,transport document or equivalent electronic message,Two options:,Ex works cleared for export,Ex works uncleared for export,16/76,F Terms,F terms,refer to FAS,FCA,FOB.They are different terms under which sellers or buyers fulfill their obligations in the delivery of goods.,FAS,is the short form of“Free Alongside Ship”,and,FCA,is the short form of“Free Carrier”while,FOB,is the short form of“Free On Board”.,17/76,FCA Free Carrier,货交承运人（,指定地点）,Free Carrier,means that the seller fulfils his obligation to deliver when he has handed over the goods,cleared for export,into the charge of the carrier named by the buyer at the named place or point.If no precise point is indicated by the buyer,the seller may choose within the place or range stipulated where the carrier shall take the goods into his charge.When,according to the commercial practice,the sellers assistance is required in making the contract with the carrier(such as in rail or air transport),the seller may act at the buyers risk and expense.,18/76,This term may be used for any mode of transport,including multi-modal transport.Carrier means any person who,in a contract of carriage,undertakes to perform or to procure the performance of carriage by rail,road,sea,air,inland waterway or by a combination of such modes.If the buyer instructs the seller to deliver the cargo to a person,e.g.a freight forwarder who is not a Carrier,the seller is deemed to have fulfilled his obligation to deliver the goods when they are in the custody of that person.,19/76,Under this term,the seller is to answer for the liabilities and charges from the purchase or manufacture of the goods,the freight from the production site to the site of delivery,export customs clearance and export commodity inspection.All the other charges and liabilities are to be born by the buyers.,20/76,FCA:Free Carrier(,named place),The sellers obligations,Provision of goods in conformity with the contract,Licenses,official documents and customs formalities,Clearing for export,Delivery to the carrier,Proof of delivery,transport document or equivalent electronic message,Risks and costs before delivering goods to the carrier,The buyers obligations,Payment for goods,Contract of carriage and insurance,Taking delivery,Notice to the seller,Risks and costs after the sellers delivering goods to the carrier,21/76,FAS-Free Alongside Ship,船边交货（,指定装运港）,Free Alongside Ship,means that the seller fulfils his obligation to deliver when the goods have been placed alongside the vessel on the quay or in lighters at the named port of shipment.This means that the buyer has to bear all costs and risks of the loss or damage to their goods from that moment.,22/76,The FAS term requires,the SELLER(INCOTERMS),not the buyer(INCOTERMS1990 requires the buyer),to clear the goods for export.This term can only be used for sea or inland waterway transport.,Under this term,the seller answers for the cost and liabilities arising from the production or purchase of the goods and the carriage of the goods to the loading port or,in land delivery,to the delivery place at the frontier.,23/76,Under FAS,the seller must pay the costs of those checking operations(such as checking quality,measuring,weighing,counting)which are necessary for placing the goods at the disposal of the buyer.The seller must provide at his own expense packaging that is required for the transport of the goods,to the extent that the circumstances relating to the transport(modalities,destination)are made known to the seller before the sales contract is concluded.Packaging is to be marked appropriately.,24/76,FAS:Free Alongside Ship(,named port of shipment),The sellers obligations,Provision of goods in conformity with the contract,Clearing the goods for export,Delivery,Proof of delivery,Costs and risks before the goods are placed alongside the vessel,The buyers obligations,Payment for goods,Contract of carriage and insurance,Taking delivery,Transport document or equivalent electronic message,Costs and risks after the goods are place alongside the vessel,Notice to the seller,25/76,FOB Free on Board,船上交货（,指定装运港）,Free on Board,means that the seller fulfils his obligation to deliver when the goods have passed over the ships rail at the named port of shipment.This means that the buyer has to bear all costs and risks of loss or damage to the goods from that point.,26/76,The FOB term requires the seller to clear the goods for export.This term can only be used for sea or inland waterway transport.When the ships rail serves no practical purpose,such as in the case of roll-on/roll-off or container traffic,the FCA term is more appropriate.,27/76,Under this term,the seller has roughly the same liabilities as in the sales under FCA.The difference between FCA and FOB is that FOB is applicable only to marine transportation while FCA can be applied to all modes of transportations.,28/76,The Particular Points about the Sales under FOB:,1)According to,INCOTERMS,(International Chamber of Commerce Terms),the seller fulfils his obligations to deliver when the goods have passed over the ship,s rail at the named port of shipment,but it is often the practice that the seller sees the goods are delivered on board.Under such cases,the ship,s rail can be taken as the point where the seller and buyer divide their risks.,29/76,2)Under FOB,it is the buyer who arranges the ship for the shipment of the goods.So the parties must try to ensure that the goods and the boat arrive at the same loading port at the same time.The loss caused by the untimely arrival or delay of the ship should be compensated by the buyer while the loss arising from the untimely arrival or delay of the goods will be covered by the seller.,30/76,Under FOB,the seller sometimes also makes the charter party.But it is on the buyers behalf and the cost as well as the risk should be covered and borne by the buyer,31/76,3)As the loading charges are concerned,they are usually covered by the buyer as the freight charged by the liners includes the loading,trimming,stowing,and the unloading charges.But under voyage charter party,the parties need to clarify in their contract who should cover the loading,trimming,or stowing charges.,32/76,This is reflected in the variations of FOB:,FOB liner terms,班轮条件,:The loading as well as trimming or stowing charges will be covered by the buyer/carrier.,FOB under tackle,钓钩下交货,:The seller fulfils his delivery when it has placed the goods under the tackle.,FOB stowed,理舱费在内,:The seller will bear the cost of stowing as well as loading.,FOB trimmed,平舱费在内,:The seller will bear the cost of trimming as well as loading.,FOBST,:FOB Stowed and Trimmed,33/76,FOB:Free on Board(,named port of shipment),The sellers obligations,Provision of goods in conformity with the contract,Export licenses,official documents and customs formalities,Delivery,Proof of delivery,Costs and risks before the goods passing the ships rail,Notice to the buyer,The buyers obligations,Payment for goods,Import licenses,official documents and customs formalities,Contract of carriage and insurance,Taking delivery,Transport document or equivalent electronic message,Risks and costs after the goods passing the ships rail,34/76,Different Interpretation of FOB,Revised American Foreign Trade Definitions 1941 gives 6 forms of FOB.Under the first three forms,the seller delivers goods on the inland conveyance at the named place in the export country.Under the fourth type,delivery is made on the inland conveyance at the place of export.The fifth type requires delivery on board the vessel at the named port of shipment.With the sixth type,the seller is to deliver the goods at the named place within the import country.,caution:confusion may arise when applying the fourth type and the fifth type as the place of delivery may appear to be the same.For example,FOB San Francisco may refer to delivery either on inland conveyance within the city or on board the vessel at the port of San Francisco.To avoid confusion,a word“Vessel”should be added between FOB and the name of the port(FOB Vessel San Francisco)if delivery on board the vessel is intended.,35/76,C Terms,C Terms,refer to CFR,CIF,CPT,and CIP.Under the C terms,the seller will cover the cost arising from the main carriage.,36/76,CFR Cost and Freight,成本加运费（,指定目标港）,Cost and Freight,means that the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss or damage to the goods,as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel,is transferred from the seller to the buyer when the goods pass the ship,s rail in the port of shipment.The CFR term requires the seller to clear the goods for export.,37/76,This term can only be used for sea and inland waterway transport.When the ships rail serves no practical purpose,CPT term is more appropriate to use.,Under this term,the buyer will effect the insurance.,The seller covers the cost of carriage but does not bear the risks arising from the carriage of the goods.,38/76,Some additional points about CFR:,1),Under this term,the seller arranges the charter party or rent the ship space.According to,INCOTERMS,he is obliged to contract on usual terms at his own expense for the carriage of the goods to the named port of destination by the usual route in a seagoing vessel(or,in inland waterway transport,an inland waterway vessel as appropriate)of the type normally used for the transport of the goods of the contract description.Th
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