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INCOTERMS by Mind Map: INCOTERMS

1. History

1.1. Meaning

1.1.1. International Commercial Terms

1.2. Created by

1.2.1. the International Chamber of Commerce (ICC) in 1936

1.3. 7 revisions

1.3.1. 1953; 1967; 1976; 1980; 1990; 2000; 2010

1.3.2. Incoterms 2010 entered into force on 01/01/2011

2. Purposes

2.1. Establish international rules for the interpretation of trade terms in international trade contracts

2.2. To avoid misunderstandings as a result of different commercial practices

2.3. INCOTERMS in no way cover all obligations which the parties to a sales contract

2.4. INCOTERMS do not apply to contracts of carriage.

3. Main features

3.1. The Incoterms deal

3.1.1. Carriage (transport obligations):

3.1.2. Risk (passing of risks):

3.1.3. Cost (cost division):

3.2. The Incoterms not deal

3.2.1. Questions of ownership

3.2.2. Breach of contract and the legal consequences

3.2.3. Declarations of indemnity

3.2.4. Delivery options

3.2.5. Modes of payment

3.2.6. Notice of defects

4. Introduction Incoterms 2010

4.1. 11 rudes

4.1.1. 1) EXW – Ex Works 2) FCA – Free Carrier 3) FAS – Free Alongside Ship 4) FOB – Free On Board 5) CFR – Cost and Freight 6) CIF – Cost, Insurance & Freight 7) CPT – Carriage Paid To 8) CIP – Carriage & Insurance Paid To 9) DAT – Delivered At Terminal 10) DAP – Delivered At Place 11) DDP – Delivered Duty Paid

4.2. 7 Rules for any mode of transport

4.2.1. 1. EXW : Ex Works 2. FCA : Free Carrier 7. CPT : Carriage Paid To 8. CIP : Carriage and Insurance Paid To 9. DAT : Delivered At Terminal 10. DAP: Delivered At Place 11. DDP: Delivered Duty Paid

4.3. 4 Rules for sea and inland waterway transport

4.3.1. 3) FAS – Free Alongside Ship 4) FOB – Free On Board 5) CFR – Cost and Freight 6) CIF – Cost, Insurance & Freight

5. Structure & Rules of Incoterms 2010

5.1. 4 main groups