Incoterms 2010

EENI- School of International Business

Subject: Incoterms 2010. DAT DAP FOB CIF EXW FCA CIP... Syllabus:

  1. Introduction to the Incoterms
  2. What are the Incoterms 2010?
  3. Analysis of the Incoterms
  4. Comparative tables
  5. Incoterms and international transport
  6. New Incoterms: DAT and DAP
  7. Replaced Incoterms: DAF, DES, DEQ, and DDU
  8. Incoterms for sea and inland waterway transport: FAS - FOB - CFR - CIF
  9. Incoterms for any mode of transport: EXW - FCA - CPT - CIP - DAT - DAP - DDP
  10. How are they used?
  11. Criteria for selection of the Incoterms

The objectives of the subject “Incoterms” are the following:

  1. To understand the responsibilities of the exporter and importer under the Incoterms 2010
  2. To know how the Incoterms are used in the international trade transactions
  3. To identify the risk, cost, and formalities according to the Incoterm selected
Subject “INCOTERMS” is studied...
  1. Masters (e-learning): International Business (MIBE), Foreign Trade and International Marketing
  2. Diploma in International Trade
  3. Course Foreign Trade Management
  4. Degree in International Trade

Languages of study English or French Incoterms Spanish Incoterms Portuguese Incoterms الإنكوتيرمز

Credits of the subject “Incoterms”: 2 ECTS Credits.

Area of Knowledge: Foreign trade.

Sample of the subject - Incoterms 2010:
Incoterms

Description of the Subject: Incoterms 2010

The Incoterms are a set of international rules for the interpretation of the international trade terms set forth by the International Chamber of Commerce.

  1. The word Incoterm is an abbreviation of International Commercial Terms,
  2. The chosen Incoterm is a term of the contract of sale
  3. The Incoterms are not terms of the contracts of carriage or delivery
  4. In the international trade transactions, one of the aspects to be defined is the place of delivery of products. This place, previously agreed between the importer and the exporter, must be stated in the international sales contract

The Incoterms 2010 facilitates the foreign trade (imports and exports) by clearly defining:

  1. The place of delivery
  2. Who is the responsible for the transport to the place of delivery
  3. Who assumes the risks and the point at which the risk passes from the exporter to the importer
  4. Whom customs clears the products for Import/Export
  5. Moreover, many more significant obligation

The Incoterms also establish a body of international rules for the interpretation of the most commonly used international trade terms.

Defining the obligations.

The Incoterms enable the contracting parties to set out clearly and concisely the extent of their respective duties, and above all, the moment when the costs and risks are transferred from the exporter to the importer.

In the Incoterms, the parties define the point to which the exporter is the responsible for the products and what are the expenses relating to his obligations, which will, therefore, should be included in the price offered by the exporter.

The Incoterms cover the various modes of transport of the products, clearly defining in the international contract of sale the respective obligations of the exporter and the importer in each case.

Incoterms 2010. The number of the Incoterms rules has been reduced from 13 to 11. New Incoterms: DAT and DAP. Replaced Incoterms: DAF, DES, DEQ, and DDU.

A) The Incoterms for sea and inland waterway transport:

FAS - FOB - CFR - CIF

b) The Incoterms for any mode of transport (multimodal/unimodal).

EXW - FCA - CPT - CIP - DAT - DAP - DDP

The Incoterms Delivered at Origin: EXW, FCA, FAS, FOB, CPT, CFR, CIP, CIF

The Incoterms Delivered at Destination: DAT, DAP, DDP

DAP (DELIVERED AT PLACE)

  1. May be used for all transport mode.
  2. The exporter delivers when the products, once unloaded from the arriving means of carriage, are made available to the importer at a named terminal at the named port or place of destination
  3. “Terminal” includes quays, warehouses, container yard or road, rail or air terminal.
  4. Both parties should agree on the terminal and if possible a point within the terminal at which point the risks will transfer from the exporter to the buyer of the product.
  5. If it is intended that the exporter be to bear all the costs and responsibilities from the terminal to another point, DAP or DDP may apply.

DAT (DELIVERED AT TERMINAL)

  1. May be used for all transport modes. The exporter delivers the products when are placed at the disposal of the importer on the arriving means of transport ready for unloading at the named place of destination. The parties are advised to specify, as clearly as possible, the point within the agreed place of destination because risks transfer at this point from exporter to importer. If the exporter is the responsible for clearing the products or paying duties, consideration should be given to using the DDP term

International pricing policy

Price of Traded Goods

Website: International Chamber of Commerce.


INCOTERMS 2000 (Not in force)
- EXW EX WORKS (... named place)
- FCA FREE CARRIER (... named place)
- FAS FREE ALONGSIDE SHIP (... named port of shipment)
- FOB FREE ON BOARD (... named port of shipment)
- CFR COST and FREIGHT (... named port of destination)
- CIF COST, INSURANCE and FREIGHT (... named port of destination)
- CPT CARRIAGE PAID TO (... named place of destination)
- CIP CARRIAGE and INSURANCE PAID TO (... named place of destination)
- DAF DELIVERED AT FRONTIER (... named place)
- DES DELIVERED EX SHIP (... named port of destination)
- DEQ DELIVERED EX QUAY (... named port of destination)
- DDU DELIVERED DUTY UNPAID (... named place of destination)
- DDP DELIVERED DUTY PAID (... named place of destination).

U-EENI University Catalonia is Spain