MARITIME-ONLY TERMS

 

• FAS – FREE ALONGSIDE SHIP 

The Seller delivers the goods to the origin port. From that point, the Buyer bears all costs and risks of loss or damage.

 

• FOB – FREE ON BOARD 

The Seller delivers the goods on board the ship and clears the goods for export. From that point, the Buyer bears all costs and risks of loss or damage.

 

• CFR – COST AND FREIGHT

The Seller clears the goods for export and pays the costs of moving the goods to destination.

The Buyer bears all risks of loss or damage.

 

• CIF – COST INSURANCE AND FREIGHT

The Seller clears the goods for export and pays the costs of moving the goods to the port of destination. The Buyer bears all risks of loss or damage. The Seller, however, purchases the cargo insurance.

 

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