Curriculum
Understanding & Applying Incoterms 2020
Module 1: Introduction to Incoterms
0/3
Module 2: Ex Works (EXW)
0/5
Module 3: Free Carrier (FCA)
0/5
Module 4: Carriage Paid To (CPT)
0/5
Module 5: Carriage & Insurance Paid To (CIP)
0/5
Module 6: Delivered at Place (DAP)
0/5
Module 7: Delivered at Place Unloaded (DPU)
0/5
Module 8: Delivered Duty Paid (DDP)
0/5
Module 9: Free Alongside Ship (FAS)
0/5
Module 10: Free On Board (FOB)
0/5
Module 11: Cost and Freight (CFR)
0/5
Module 12: Cost Insurance and Freight (CIF)
0/5
Module 13: Choosing the Right Incoterm
0/4
Module 14: Practical Application and Case Studies
0/3
Text lesson
EXW Risks
Seller’s Risks
- Bears risks until the goods are made available at the agreed delivery point.
- This means that the seller is responsible for the goods’ safety, condition, and any damage that might occur before the buyer takes possession.
- Seller’s risks may include damage during storage, handling, or quality checks prior to delivery.
- After the goods are made available at the delivery point and the buyer takes responsibility, the seller is no longer liable for any potential risks or damage to the goods.
Buyer’s Risks
- Assumes responsibility for any loss or damage to the goods from the moment they are made available at the agreed delivery point.
- If the buyer does not promptly accept the goods or provide proper notice, they are responsible for any loss or damage that may occur from the agreed date or the end of the delivery period, as long as the goods are clearly identified in the contract.
- Risks can include damage during loading, theft, loss during transit, and any other perils affecting the goods after the point of delivery.
- In cases where the buyer does not promptly collect the goods and provide adequate notice, they may also bear responsibility for additional costs incurred, such as storage fees.