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Expert Opinion: Master INCOTERMS to export your wines with ease

Par Vitisphere Le 30 juin 2010
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Expert Opinion: Master INCOTERMS to export your wines with ease
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eveloped by the ICC (International Chamber of Commerce), INCOTERMS (International Commercial Terms) have the aim of standardising the most commonly used commercial terms in international trade in general: they clearly also apply to the wine trade.

These terms define the responsibilities and obligations of a buyer and seller within the framework of international trade contracts, notably with respect to shipping, transport, mode of transport, insurance and delivery.

Their first function is the division of transportation costs. The second role of incoterms is to define the place of risk transfer, that is whether the seller or the buyer will bear the damages in case of a problem in transportation. The third, and most important function in contemporary global trade, incoterms determine the obligations of delivery which fall, in terms of delay, on the seller.

Example: CIP Tunis, dispatch from France at the latest (…indicate the latest date).

There are 4 groups (E, F, C et D) which include a total of 13 types of sale:

Group E: departure (costs and risks related to transportation are undertaken by the buyer)
• EXW: EX Works, goods are made available to the buyer at the seller’s premises

Group F: main carriage unpaid (costs and risks related to principal transportation are undertaken by the buyer)
• FCA: Free Carrier
• FAS: Free Alongside Ship
• FOB: Free On Board

Group C: main carriage paid (costs and risks related to principal transportation are undertaken by the buyer)
• CFR: Cost and Freight
• CIF: Cost Insurance Freight
• CPT: Carriage Paid To
• CIP: Carriage and Insurance Paid to

Group D: arrival (costs and risks related to principal transportation are undertaken by the seller)
• DAF: Delivered At Frontier
• DES: Delivered Ex Ship
• DEQ: Delivered Ex Quay
• DDU: Delivered Duty Unpaid
• DDP: Delivered Duty Paid

See below for a clear illustration, which willl help with visualising the transfer of responsibilites.

Advice:
• Be sure of the meaning of the incoterms and their acronyms,
• Check the terms of the sales contract and these obligations,
• Make reference to them on all documents,
• Take into account the mode of transport. Not all incoterms ar valid for every mode of transport. For example, the acronym FOB is not acceptable for transportation by land.
• Incoterms do not solve the problem of transfer of ownership of the goods but only the transfer of risks and costs between buyer and seller. Transfer of ownership is subject to different legal regulations in different countries.
• In case of doubt, appeal to an international law firm.

More information at:
http://www.iccwbo.org/incoterms/id3040/index.html
http://www.sitpro.org.uk/trade/incoterms1.html

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