Identify and explain the different Incoterms.
What will be an ideal response?
Answers may vary but Table B.2 provides a useful summary of what the responses should cover.
| General Transportation Terms | Water Transport Terms |
| Ex-Works (named place): seller makes goods available at factory or warehouse, where risk passes ? | FAS (named loading port): free alongside ship; seller clears the goods for export and places them by the ship, risk passes at rail |
| FCA (name place): free carrier, seller hands over goods to carrier at a named place, where risk passes | FOB (named loading port): free on board; seller loads goods, risk passes at rail |
| CPT (named destination): carriage paid to destination, seller pays for carriage, while risk passes when goods handed to carrier ? | CFR (named destination port): cost and freight: seller pays costs of freight to bring goods to destination port (this does not include insurance); risk passes once goods are loaded |
| CIP (named place of destination): carriage and insurance paid to destination, while risk passes when goods are handed to carrier | CIF (named destination port): same as CFR, but also includes insurance; risk still passes at ship's rail ? |
| DAT: delivered at terminal, seller pays for transport and insurance to terminal and has risk until goods loaded at terminal | ? |
| DAP (name of destination): delivered at place; seller pays for carriage to the named place and assumes all risk until goods are unloaded | ? |
| DDP (destination place): delivered, duty paid; seller delivers goods to destination and covers all duties, taxes, customs | ? |
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