CIF
COST, INSURANCE
AND FREIGHT
(... named port of destination)
COST, INSURANCE
AND FREIGHT
(... named port of destination)
Cost,
Insurance and Freight� means that the seller delivers when the goods pass the
ship's rail in the port of shipment.
The seller must pay the costs and
freight necessary to bring the goods to the named port of destination BUT the
risk of loss of or damage to the goods, as well as any additional costs due to
events occurring after the time of delivery, are transferred from the seller to
the buyer. However, in CIF the seller also has to procure marine insurance
against the buyer's risk of
loss of or damage to the goods during the carriage.
Consequently, the seller
contracts for insurance and pays the insurance premium. The buyer should note
that under the GIF term the seller is required to obtain insurance only on
minimum cover (Refer to Introduction paragraph 9.3).
Should the buyer wish to have the protection of greater cover, he would either
need to agree as much expressly with the seller or to make his own extra
insurance arrangements.
The GIF term requires the
seller to clear the goods for export. This term can be used only for sea and
inland waterway transport. If the parties do not intend to deliver the goods
across the ship's rail, the CIP term should be used.
THE
SELLER'S OBLIGATIONS
THE
BUYER'S OBLIGATIONS
A1 Provision of goods in
conformity with the contract
The seller must provide the goods
and the commercial invoice, or its equivalent electronic message, in conformity
with the contract of sale and any other evidence of conformity which may be
required by the contract.
B1 Payment of the price
The buyer must pay the price as
provided in the contract of sale.
A2 Licences,
authorisations and formalities
The seller must obtain at his own
risk and expense any export licence or other official authorisation and carry
out, where applicable (Refer to Introduction paragraph 14)
, all customs formalities necessary for the export of the goods.
B2 Licences,
authorisations and formalities
The buyer must obtain at his own
risk and expense any import licence or other official authorisation and carry
out, where applicable (Refer to Introduction paragraph 14),
, all customs formalities for the import of the goods and for their transit
through any country.
A3 Contracts of carriage
and insurance
a) Contract of carriage
The seller must 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 inland waterway vessel
as the case may be) of the type normally used for the transport of goods of the
contract description.
b) Contract of insurance
No obligation (Refer to Introduction paragraph 10)
B3 Contracts of carriage
and insurance
a) Contract of carriage
No obligation (Refer to Introduction paragraph 10)
b) Contract of insurance
No obligation (Refer to Introduction paragraph 10).
A4 Delivery
The seller must deliver the goods
on board the vessel at the port of shipment on the date or within the agreed
period.
B4 Taking delivery
The buyer must accept delivery of
the goods when they have been delivered in accordance with A4 and receive them
from the carrier at the named port of destination.
A5 Transfer of risks
The seller must, subject to the
provisions of B5, bear all risks of loss of or damage to the goods until such
time as they have passed the ship's rail at the port of shipment.
B5 Transfer of risks
The buyer must bear all risks of
loss of or damage to the goods from the time they have passed the ship's rail
at the port of shipment.
The buyer must, should he fail to give notice in accordance with B7, bear all risks of loss of or damage to the goods from the agreed date or the expiry date of the period fixed for shipment provided, however, that the goods have been duly appropriated to the contract, that is to say, clearly set aside or otherwise identified as the contract goods.
The buyer must, should he fail to give notice in accordance with B7, bear all risks of loss of or damage to the goods from the agreed date or the expiry date of the period fixed for shipment provided, however, that the goods have been duly appropriated to the contract, that is to say, clearly set aside or otherwise identified as the contract goods.
A6 Division of costs
The seller must, subject to the
provisions of B6. pay
� all costs relating to the goods
until such time as they have been delivered in accordance with A4; and
� the freight and all other costs
resulting from A3 a), including the costs of loading the goods on board; and
� the costs of insurance resulting
from A3 b); and
� any charges for unloading at the
agreed port of discharge which were for the seller's account under the contract
of carriage; and
� where applicable (Refer to Introduction paragraph 14),
the costs of customs formalities necessary for export as well as all duties,
taxes and other charges payable upon export, and for their transit through any
country if they were for the seller's account under the contract of carriage.
B6 Division of costs
The buyer must, subject to the
provisions of A3, pay
� all costs relating to the goods
from the time they have been delivered in accordance with A4; and
� all costs and charges relating
to the goods whilst in transit until their arrival at the port of destination,
unless such costs and charges were for the seller's account under the contract
of carriage; and
� unloading costs including
lighterage and wharfage charges, unless such costs and charges were for the
seller's account under the contract of carriage; and
� all additional costs incurred if
he fails to give notice in accordance with B7, for the goods from the agreed
date or the expiry date of the period fixed for shipment, provided, however,
that the goods have been duly appropriated to the contract, that is to say,
clearly set aside or otherwise identified as the contract goods; and
� where applicable (Refer to Introduction paragraph 14),
all duties, taxes and other charges as well as the costs of carrying out
customs formalities payable upon import of the goods and, where necessary, for
their transit through any country unless included within the cost of the
contract of carriage.
A7 Notice to the buyer
The seller must give the buyer
sufficient notice that the goods have been delivered in accordance with A4 as
well as any other notice required in order to allow the buyer to take measures
which are normally necessary to enable him to take the goods.
B7 Notice to the seller
The buyer must, whenever he is
entitled to determine the time for shipping the goods and/or the port of
destination, give the seller sufficient notice thereof.
A8 Proof of delivery,
transport document or equivalent electronic message
The seller must, at his own
expense, provide the buyer without delay with the usual transport document for
the agreed port of destination.
This document (for example a
negotiable bill of lading, a non-negotiable sea waybill or an inland waterway
document) must cover the contract goods, be dated within the period agreed for
shipment, enable the buyer to claim the goods from the carrier at the port of
destination and, unless otherwise agreed, enable the buyer to sell the goods in
transit by the transfer of the document to a subsequent buyer (the negotiable
bill of lading) or by notification to the carrier.
When such a transport document is
issued in several originals, a full set of originals must be presented to the
buyer. Where the seller and the buyer have agreed to communicate
electronically, the document referred to in the preceding paragraphs may be
replaced by an equivalent electronic data interchange (EDI) message.
B8 Proof of delivery,
transport document or equivalent electronic message
The buyer must accept the
transport document in accordance with A8 if it is in conformity with the
contract.
A9 Checking - packaging -
marking
The seller must pay the costs of
those checking operations (such as checking quality, measuring, weighing,
counting) which are necessary for the purpose of delivering the goods in
accordance with A4.
The seller must provide at his own
expense packaging (unless it is usual for the particular trade to ship the
goods of the contract description unpacked) which is required for the transport
of the goods arranged by him. Packaging is to be marked appropriately.
B9 Inspection of goods
The buyer must pay the costs of
any pre-shipment inspection except when such inspection is mandated by the
authorities of the country of export.
A10 Other obligations
The seller must render the buyer
at the latter's request, risk and expense, every assistance in obtaining any
documents or equivalent electronic messages (other than those mentioned in A8)
issued or transmitted in the country of shipment and/or of origin which the
buyer may require for the import of the goods and, where necessary, for their
transit through any country.
The seller must provide the buyer,
upon request, with the necessary information for procuring any additional
insurance.
B10 Other obligations
The buyer must pay all costs and
charges incurred in obtaining the documents or equivalent electronic messages
mentioned in A10 and reimburse those incurred by the seller in rendering his
assistance in accordance therewith.
The buyer must provide the seller,
upon request, with the necessary information for procuring insurance.
FOB
FREE ON BOARD
(... named port of shipment)
FREE ON BOARD
(... named port of shipment)
Free on
Board� means that the seller delivers when the goods pass the ship's rail at
the named port of shipment. This means that the buyer has to bear all costs and
risks of loss of or damage to the goods from that point. The FOB term requires
the seller to clear the goods for export. This term can be used only for sea or
inland waterway transport. If the parties do not intend to deliver the goods
across the ship's rail, the FCA term should be used.
THE
SELLER'S OBLIGATIONS
THE
BUYER'S OBLIGATIONS
A1 Provision of goods in
conformity with the contract
The seller must provide the goods
and the commercial invoice, or its equivalent electronic message, in conformity
with the contract of sale and any other evidence of conformity which may be
required by the contract.
B1 Payment of the price
The buyer must pay the price as
provided in the contract of sale.
A2 Licences,
authorisations and formalities
The seller must obtain at his own
risk and expense any export licence or other official authorisation and carry
out, where applicable (Refer to Introduction paragraph 14)
, all customs formalities necessary for the export of the goods.
B2 Licences,
authorisations and formalities
The buyer must obtain at his own
risk and expense any import licence or other official authorisation and carry
out, where applicable (Refer to Introduction paragraph 14),
all customs formalities for the import of the goods and, where necessary, for
their transit through any country.
A3 Contracts of carriage
and insurance
a) Contract of carriage
No obligation (Refer to Introduction paragraph 10)
b) Contract of insurance
No obligation (Refer to Introduction paragraph 10)
B3 Contracts of carriage
and insurance
a) Contract of carriage
The buyer must contract at his own
expense for the carriage of the goods from the named port of shipment.
b) Contract of insurance
No obligation (Refer to Introduction paragraph 10).
A4 Delivery
The seller must deliver the goods
on the date or within the agreed period at the named port of shipment and in
the manner customary at the port on board the vessel nominated by the buyer.
B4 Taking delivery
The buyer must take delivery of
the goods when they have been delivered in accordance with A4.
A5 Transfer of risks
The seller must, subject to the
provisions of B5, bear all risks of loss of or damage to the goods until such
time as they have passed the ship's rail at the named port of shipment.
B5 Transfer of risks
The buyer must bear all risks of
loss of or damage to the goods
� from the time they have passed
the ship's rail at the named port of shipment; and
� from the agreed date or the
expiry date of the agreed period for delivery which arise because he fails to
give notice in accordance with B7, or because the vessel nominated by him fails
to arrive on time, or is unable to take the goods, or closes for cargo earlier
than the time notified in accordance with B7, provided, however, that the goods
have been duly appropriated to the contract, that is to say, clearly set aside
or otherwise identified as the contract goods.
A6 Division of costs
The seller must, subject to the
provisions of B6, pay
� all costs relating to the goods
until such time as they have passed the ship's rail at the named port of
shipment; and
� where applicable (Refer to Introduction paragraph 14)
, the costs of customs formalities necessary for export as well as all duties,
taxes and other charges payable upon export.
B6 Division of costs
The buyer must pay
� all costs relating to the goods
from the time they have passed the ship's rail at the named port of shipment;
and
� any additional costs incurred,
either because the vessel nominated by him fails to arrive on time, or is
unable to take the goods, or closes for cargo earlier than the time notified in
accordance with B7, or because the buyer has failed to give appropriate notice
in accordance with B7, provided, however, that the goods have been duly
appropriated to the contract, that is to say, clearly set aside or otherwise
identified as the contract goods; and
� where applicable (Refer to Introduction paragraph 14),
all duties, taxes and other charges as well as the costs of carrying out
customs formalities payable upon import of the goods and for their transit
through any country.
A7 Notice to the buyer
The seller must give the buyer
sufficient notice that the goods have been delivered in accordance with A4.
B7 Notice to the seller
The buyer must give the seller sufficient
notice of the vessel name, loading point and required delivery time.
A8 Proof of delivery,
transport document or equivalent electronic message
The seller must provide the buyer
at the seller's expense with the usual proof of delivery in accordance with A4.
Unless the document referred to in
the preceding paragraph is the transport document, the seller must render the
buyer, at the latter's request, risk and expense, every assistance in obtaining
a transport document for the contract of carriage (for example, a negotiable
bill of lading, a non-negotiable sea waybill, an inland waterway document, or a
multimodal transport document).
Where the seller and the buyer
have agreed to communicate electronically, the document referred to in the
preceding paragraph may be replaced by an equivalent electronic data
interchange (EDI) message.
B8 Proof of delivery,
transport document or equivalent electronic message
The buyer must accept the proof of
delivery in accordance with A8.
A9 Checking - packaging -
marking
The seller must pay the costs of
those checking operations (such as checking quality, measuring, weighing,
counting) which are necessary for the purpose of delivering the goods in
accordance with A4.
The seller must provide at his own
expense packaging (unless it is usual for the particular trade to ship the
goods of the contract description unpacked) which is required for the transport
of the goods, to the extent that the circumstances relating to the transport
(for example modalities, destination) are made known to the seller before the
contract of sale is concluded. Packaging is to be marked appropriately.
B9 Inspection of goods
The buyer must pay the costs of
any pre-shipment inspection except when such inspection is mandated by the
authorities of the country of export.
A10 Other obligations
The seller must render the buyer
at the latter's request, risk and expense, every assistance in obtaining any
documents or equivalent electronic messages (other than those mentioned in A8)
issued or transmitted in the country of shipment and/or of origin which the
buyer may require for the import of the goods and, where necessary, for their
transit through any country.
The seller must provide the buyer,
upon request, with the necessary information for procuring insurance.
B10 Other obligations
The buyer must pay all costs and
charges incurred in obtaining the documents or equivalent electronic messages
mentioned in A10 and reimburse those incurred by the seller in rendering his
assistance in accordance therewith.
CFR
COST AND FREIGHT
(... named port of destination)
COST AND FREIGHT
(... named port of destination)
Cost and Freight means
that the seller delivers when the goods pass the ship's rail in the port of
shipment. The seller must pay the costs and freight necessary to bring the
goods to the named port of destination BUT the risk of loss of or damage to the
goods, as well as any additional costs due to events occurring after the time
of delivery, are transferred from the seller to the buyer.
The CFR term requires the seller to clear the goods for export. This term can be used only for sea and inland waterway transport. If the parties do not intend to deliver the goods across the ship's rail, the CPT term should be used.
The CFR term requires the seller to clear the goods for export. This term can be used only for sea and inland waterway transport. If the parties do not intend to deliver the goods across the ship's rail, the CPT term should be used.
THE
SELLER'S OBLIGATIONS
THE
BUYER'S OBLIGATIONS
A1 Provision of goods in conformity
with the contract
The seller must provide the goods
and the commercial invoice, or its equivalent electronic message, in conformity
with the contract of sale and any other evidence of conformity which may be
required by the contract.
B1 Payment of the price
The buyer must pay the price as
provided in the contract of sale.
A2 Licences,
authorisations and formalities
The seller must obtain at his own
risk and expense any export licence or other official authorisation and carry
out, where applicable (Refer to Introduction paragraph 14)
, all customs formalities necessary for the export of the goods.
B2 Licences,
authorisations and formalities
The buyer must obtain at his own
risk and expense any import licence or other official authorisation and carry
out, where applicable (Refer to Introduction paragraph 14),
, all customs formalities for the import of the goods and for their transit
through any country.
A3 Contracts of carriage
and insurance
a) Contract of carriage
The seller must 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 inland waterway vessel
as the case may be) of the type normally used for the transport of goods of the
contract description.
b) Contract of insurance
No obligation (Refer to Introduction paragraph 10)
B3 Contracts of carriage
and insurance
a) Contract of carriage
No obligation (Refer to Introduction paragraph 10)
b) Contract of insurance
No obligation (Refer to Introduction paragraph 10).
A4 Delivery
The seller must deliver the goods
on board the vessel at the port of shipment on the date or within the agreed
period.
B4 Taking delivery
The buyer must accept delivery of
the goods when they have been delivered in accordance with A4 and receive them
from the carrier at the named port of destination.
A5 Transfer of risks
The seller must, subject to the
provisions of B5, bear all risks of loss of or damage to the goods until such
time as they have passed the ship's rail at the port of shipment.
B5 Transfer of risks
The buyer must bear all risks of
loss of or damage to the goods from the time they have passed the ship's rail
at the port of shipment.
The buyer must, should he fail to give notice in accordance with B7, bear all risks of loss of or damage to the goods from the agreed date or the expiry date of the period fixed for shipment provided, however, that the goods have been duly appropriated to the contract, that is to say, clearly set aside or otherwise identified as the contract goods.
The buyer must, should he fail to give notice in accordance with B7, bear all risks of loss of or damage to the goods from the agreed date or the expiry date of the period fixed for shipment provided, however, that the goods have been duly appropriated to the contract, that is to say, clearly set aside or otherwise identified as the contract goods.
A6 Division of costs
The seller must, subject to the
provisions of B6, pay � all costs relating to the goods until such time as they
have been delivered in accordance with A4; and
� the freight and all other costs
resulting from A3 a), including the costs of loading the goods on board and any
charges for unloading at the agreed port of discharge which were for the
seller's account under the contract of carriage; and
� where applicable (Refer to Introduction paragraph 14),
the costs of customs formalities necessary for export as well as all duties,
taxes and other charges payable upon export, and for their transit through any
country if they were for the seller's account under the contract of carriage.
B6 Division of costs
The buyer must, subject to the
provisions of A3 a), pay
� all costs relating to the goods
from the time they have been delivered in accordance with A4; and
� all costs and charges relating
to the goods whilst in transit until their arrival at the port of destination,
unless such costs and charges were for the seller's account under the contract
of carriage; and
� unloading costs including
lighterage and wharfage charges, unless such costs and charges were for the
seller's account under the contract of carriage; and � all additional costs
incurred if he fails to give notice in accordance with B7, for the goods from
the agreed date or the expiry date of the period fixed for shipment, provided,
however, that the goods have been duly appropriated to the contract, that is to
say, clearly set aside or otherwise identified as the contract goods; and
� where applicable (Refer to Introduction paragraph 14)
, all duties, taxes and other charges as well as the costs of carrying out
customs formalities payable upon import of the goods and, where necessary, for
their transit through any country unless included within the cost of the
contract of carriage.
A7 Notice to the buyer
The seller must give the buyer
sufficient notice that the goods have been delivered in accordance with A4 as
well as any other notice required in order to allow the buyer to take measures
which are normally necessary to enable him to take the goods.
B7 Notice to the seller
The buyer must, whenever he is
entitled to determine the time for shipping the goods and/or the port of
destination, give the seller sufficient notice thereof.
A8 Proof of delivery,
transport document or equivalent electronic message
The seller must at his own expense
provide the buyer without delay with the usual transport document for the
agreed port of destination.
This document (for example a
negotiable bill of lading, a non-negotiable sea waybill or an inland waterway
document) must cover the contract goods, be dated within the period agreed for
shipment, enable the buyer to claim the goods from the carrier at the port of
destination and, unless otherwise agreed, enable the buyer to sell the goods in
transit by the transfer of the document to a subsequent buyer (the negotiable
bill of lading) or by notification to the carrier.
When such a transport document is
issued in several originals, a full set of originals must be presented to the
buyer.
Where the seller and the buyer
have agreed to communicate electronically, the document referred to in the
preceding paragraphs may be replaced by an equivalent electronic data
interchange (EDI) message.
B8 Proof of delivery,
transport document or equivalent electronic message
The buyer must accept the
transport document in accordance with A8 if it is in conformity with the
contract.
A9 Checking - packaging -
marking
The seller must pay the costs of
those checking operations (such as checking quality, measuring, weighing,
counting) which are necessary for the purpose of delivering the goods in
accordance with A4.
The seller must provide at his own
expense packaging (unless it is usual for the particular trade to ship the
goods of the contract description unpacked) which is required for the transport
of the goods arranged by him. Packaging is to be marked appropriately.
B9 Inspection of goods
The buyer must pay the costs of
any pre-shipment inspection except when such inspection is mandated by the
authorities of the country of export.
A10 Other obligations
The seller must render the buyer
at the latter's request, risk and expense, every assistance in obtaining any
documents or equivalent electronic messages (other than those mentioned in A8)
issued or transmitted in the country of shipment and/or of origin which the
buyer may require for the import of the goods and, where necessary, for their
transit through any country.
The seller must provide the buyer,
upon request, with the necessary information for procuring insurance.
B10 Other obligations
The buyer must pay all costs and
charges incurred in obtaining the documents or equivalent electronic messages
mentioned in A10 and reimburse those incurred by the seller in rendering his
assistance in accordance therewith.
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