As we can see here, the seller’s responsibility is until the location mentioned under FCA Incoterm® (Chittagong port in the above example). Once the goods are handed over to the buyer, his agent, or his transporter at the FCA location, the responsibility of loading it on the vessel a...
How Many Incoterms Are There and What Are They? Eleven Incoterms were established by the last update in 2020. They'reEx Works (EXW), Free Carrier (FCA), Carriage Paid to (CPT), Carriage and Insurance Paid To (CIP), Delivered at Place (DAP), Delivered at Place Unloaded (DPU), Deliver...
What are the most common Incoterms®? FCA (Free Carrier) / FOB (Free on Board) The seller is responsible for delivering the goods to the port or the buyer's nominated premises and loading them on board the ship or buyer's transportation, and the seller is responsible for all costs ass...
One of the key terms you’re likely to come across is “Incoterms®.” In this guide, we’ll decode what they mean, breaking them down into plain language. We’ll share examples of Incoterms®, and how they can impact your business’s customs clearance experience. What are Incoterms...
What Are the Various Incoterms? International commercial terms—also called "Incoterms"—clarify the rules and terms buyers and sellers use in international and domestic trade contracts. Some Incoterms include:ex works (EXW);free carrier (FCA);carriage paid to (CPT);carriage and insurance paid ...
FCA Free Carrier CPT Carriage Paid to CIP Carriage and Insurance Paid To DAP Delivered at Place DPU Delivered at Place Unloaded DDP Delivered Duty Paid Incoterms for Sea and Inland Waterway Transport FAS Free Alongside Ship FOB Free on Board CFR Cost and Freight CIF Cost Insurance and Freight...
The current version that is used is the Incoterms® 2020. It has 7 rules that cover all the modes of transport and 4 that are specific to the transport of cargo over water. These rules are as follows: EXW – Ex Works (showing the place of delivery) FCA – Free Carrier (showing the...
How Does FCA Work? One of the 11 official incoterms; Free Carrier (FCA) means that the seller is responsible for delivering the cargo to a specific destination in their own country (normally anairport or freight terminal) and the buyer assumes all responsibility from this point onwards. Liabil...
Control over the shipping process:If the buyer has specific preferences or capabilities in managing shipping logistics, incoterms like FCA might be preferable, which allow the buyer to select the carrier and manage the main carriage. Risk management:Evaluate which party is better positioned to ...
Pros and Cons of FCA delivery terms Here we are going to tell you the advantages and disadvantages of FCA delivery terms, Pros of FCA delivery terms Unlike the traditionalEXW (ex-works) model, FCA incoterms offer the buyer some control with regards to what happens to their shipment. The ha...