FAS — FREE ALONGSIDE SHIP
NAMED PORT OF SHIPMENT — The seller assumes responsibility to clear the goods for export and to deliver the goods to a named port of shipment. The seller must place the goods alongside the designated ship and within reach of the vessel’s lifting tackle. From that point on, the buyer assumes all responsibility, cost and risk for the goods.
FOB — FREE ON BOARD
NAMED POINT OF SHIPMENT — The seller assumes responsibility and cost to clear the goods for export, deliver them to the named port of departure, and load them on board the vessel nominated by the buyer. The buyer assumes responsibility for insurance and transportation for the goods from this moment forward.
CFR — COST AND FREIGHT
NAMED PORT OF DESTINATION — The seller arranges for the carriage of goods by sea to a port of destination. The seller must get the goods to the departing port, load the goods onboard the vessel and pay for transport to the destination port. The buyer assume all risk once the goods are onboard the ship and assumes responsibility for transportation from the port of destination and for import costs and duties.
CIF — COST, INSURANCE, AND FREIGHT.
NAMED PORT OF DESTINATION — The seller clears the goods for export, arranges for the carriage of goods by sea to a port of destination, insures the goods for the voyage, and provides the buyer with the documents needed to obtain the goods from the carrier. The buyer assumes responsibility, cost and risk once the goods reach the port of destination, including unloading and clearing the goods for import.