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INFOGRAPHIC INCOTERMS

Natalia Toscano Cordero

Created on November 19, 2022

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Transcript

What are Incoterms?

Incoterms are used to:

Rules for international trade

*Until what time and place is the seller or buyer responsible for the merchandise.*Documentation that must be processed by each of the parties.*The place where the merchandise is delivered.*Who is responsible for paying transportation and insurance costs.

Description

They are a set of standardized and globally accepted rules for international trade, accepted by governments and commercial participants, expressed in three-letter acronyms.

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TYPES OF INCOTERMS

CFR (Cost and Freight) – Costo y FleteCIF (Cost, Insurance and Freight) – Costo, Seguro y Flete CPT (Carriage Paid To) - Transporte Pagado Hasta CIP (Carriage and Insurance Paid) - Transporte y Seguro Pagados Hasta DAP (Delivered At Place) - Entregado en Lugar DPU (Delivered at Place Unloaded) - Entregado en Lugar Descargado EXW (Ex Works) - En Fábrica DDP (Delivered Duty Paid) - Entregado con Deberes Pagados FCA (Free Carrier) - Libre Transportista FAS (Free Alongside Ship) - Libre al Costado del Buque FOB (Free On Board) - Libre a Bordo

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Current incoterms

EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DPU, DAP y DDP

The most used Incoterms

EXW, FOB, CFR, CIF.

HOW EACH INCOTERM WORKS

QUICK GUIDE TO INCOTERMS

Estudent

Natalia Sofia Toscano Cordero

Public accounting student

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Subject: International Business Teacher: Rodolfo Murillas

Fundacion Universitaria del Area Andina

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