Business Translation ll Mind Map on Incoterms, created by SOFIA SAMUDIO GUZMAN on 06/05/2020.
Mind Map by SOFIA SAMUDIO GUZMAN, updated more than 1 year ago
Created by SOFIA SAMUDIO GUZMAN over 3 years ago

Resource summary

  1. Trade Terms are key elements of international contracts of sale
    1. Define the role between seller and uyer at an international transaction, a contract is made and it is stablish:
      1. Duties of the buyer and the seller
        1. Point where the costs and risks pass on from the seller to the buyer
          1. Who takes care of the insurances, licences, permissions and all other formalities
            1. Who arranges the transport until which point and who is responsible for this
          2. How to use them
            1. Specify the notion in the sales contract
              1. Other precautions to take into account
                1. knowledge of the meaning of each Incoterm and its acronym
                  1. Use the Incoterms® variants with precision, to avoid the confusion that could arise from their misinterpretation
                  2. Pinpoint the place or port accurately
                    1. Choosing the Right Incoterms® Ruler
                    2. Direct delivery on departure or sale on arrival
                      1. A sale on arrival means that the merchandise travels at the expense and risk of the seller to the agreed point / port
                        1. until the end of maritime transport and landing (DAP)
                          1. to destination point (DPU, DDP)
                          2. A direct delivery on departure means that the merchandise travels at the expense and risk of the buyer
                            1. from the moment it was delivered to the carrier to be dispatched (FCA, FAS, FOB, CFR, CIF, CPT and CIP)
                              1. from its availability at the seller's premises (EXW)
                            2. English/Spanish
                              1. Ocean freight usage only/Aplicables al transporte marítimo y al transporte fluvial
                                1. FAS - Free Alongside Ship/Franco al costado del buque
                                  1. FOB – Free On Board/Franco a bordo
                                    1. CFR – Cost And Freight/Coste y Flete
                                      1. CIF – Cost Insurance And Freight/Coste, Seguro y Flete
                                      2. For all modes of Transport/Aplicables al transporte marítimo y al transporte fluvial
                                        1. EXW – Ex Works/En fábrica
                                          1. FCA – Free Carrier/Franco transportista
                                            1. CPT – Carriage Paid To/Transporte pagado hasta
                                              1. CIP – Carriage And Insurance Paid To/Transporte y seguro pagados hasta
                                                1. DPU – Delivered At Named Place, Unloaded/Descargado en el lugar de destino acordado
                                                  1. DAP – Delivered At Place/Entregado en punto de destino
                                                    1. DDP – Delivered Duty Paid/Entregado con derechos pagados
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