Useful information | newmarketliner

Useful Information

RULES FOR ANY MODE OF TRANSPORT

EXW – Ex Works (named place of delivery)

The seller makes the goods available at its premises. This term places the maximum obligation on the seller. The Ex Works term is often used when making an initial quotation for the sale of goods without any costs included. EXW means that a seller has the goods ready for collection at his premises (works, factory, warehouse, plant) on the date agreed upon. The buyer pays all transportation costs and bears the risks for bringing the goods to their final destination. The seller doesn’t load the goods on collecting vehicles and doesn’t clear them for export. If the seller does load the goods, he does so at buyer’s risk and cost. If parties wish seller to be responsible for the loading of the goods on departure and to bear the risk and all costs of such loading, this must be made clear by adding explicit wording to this effect in the contract of sale.

FCA – Free Carrier (named place of delivery)

The seller hands over the goods, cleared for export, into the disposal of the first carrier (named by the buyer) at the named place. The seller pays for carriage to the named point of delivery, and risk passes when the goods are handled over to the first carrier

CPT - Carriage Paid To (named place of destination)

The seller pays for carriage. Risk transfers to buyers upon handling goods over to the first carrier.

CIP - Carriage and Insurance Paid To (named place of destination)

The containerised transport/multimodal equivalent of CIF. Seller pays for carriage and insurance to the named destination point.

DAT - Deld at Terminal (named Terminal at port or place of destination)

Seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks up to the point that the goods are unloaded at the terminal.

DAP – Delivered at Place (named place of destination)

Seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks prior to the point that the goods are ready for unloading by the buyer.

DDP –Delivered Duty Paid (named place of destination)

Seller is responsible for delivering the goods to the named place in the country of the buyer, and pays all costs in bringing the goods to the destination including import duties and taxes. This term places the maximum obligations on the seller and minimum obligations on the buyer.

FAS - Free Alongside Ship

The seller has fulfilled his obligation when goods have been placed alongside the vessel at the port of shipment

FOB - Free on Board

Once the goods have passed over the ship's rail at the port of export the buyer is responsible for all costs and risks of loss or damage to the goods from that point. The seller is required to clear the goods for export

CFR - Cost and Freight

The seller must pay the costs and freight required in bringing the goods to the named port of destination. The risk of loss or damage is transferred from seller to buyer when the goods pass over the ship's rail in the port of shipment. The seller is required to clear the goods for export

CIF - Cost, Insurance and Freight

The seller has some obligations as under CFR however he is also required to provide insurance against the buyer's risk of loss or damage to the goods during transit. The seller is required to clear the goods for export

Classes of Dangerous Goods
There are nine classes of dangerous goods. These include:

Class 1 Explosive substances and articles

Class 2 Gases
Class 3 Flammable Liquids

Class 4.1 Flammable solids, self-reactive substances and solid desensitised explosives.

Class 4.2 Substances liable to spontaneous combustions

Class 4.3 Substances which, in contact with water, emit flammable gases

Class 5.1 Oxidising substances

Class 5.2 Organic Peroxides

Class 6.1 Toxic substances

Class 6.2 Infectious substances

Class 7 Radioactive material

Class 8 Corrosive substances

Class 9 Miscellaneous dangerous substances and articles