Shipping & Logistic Services
Accrue Minerals Logistics Division are willing and able to assist our clients with their overall International Logistics requirements concerning either Spot Cargo's or long-term Contractual Freight Services.
Accrue Minerals provide independent Logistic services to cargo customers even if the goods involved are not a part of a Accrue Trade contract..
If you would like Accrue Minerals "Logistics Division" to arrange your products logistics and/or shipping requirements then please forward your details and logistics service requirements to our London Office "Logistics Div" for our speedy reply.
"Incoterms" Logistics Terms
The most popular and widely used shipping "Incoterms" Terms used in International trade are one of three main trading payment/cost options, and in most cases are either: FOB, CFR or CIF..
The terms of these 3 main options are shown below in larger type...
All of the remaining Incoterms can also been reviewed below for your Ref:
EXW - Ex-Works: A delivery term used where the Sellers only responsibility is to make goods available at his own premises/gate. The Seller has no responsibility or costs involved for loading/transporting of the goods. The Buyer bears full cost and risk in transporting the goods from the factory, to the final Buyers destination.
FAS - Free Alongside Ship: The Seller's obligations are fulfilled as soon as the goods have been placed alongside the ship on the quay. The Buyer bears all shipping costs and risks from then on...
FCA - Free Carrier: (Named Point): The Seller's obligation is met when the goods are transferred into the custody of the Carrier, at the Name Point. The risks transfers from Seller to Buyer at this point. "CARRIER" is defined as "any person by whom or In whose name a contract of carriage by distribution, rail, air, sea or a combination of modes has been made"
FOB - Free on Board: - The goods are put on board the ship by the Seller at the Port of shipment named in the contract.
The risk thereafter transfers to the Buyer, as the goods pass over the ship's rail at the Port of Loading.
CFR - Cost and Freight: The Seller pays the cost and freight of the goods to the named Port of Destination. The risks of the goods are the Buyer's responsibility from when the goods pass over the ship's rail at the Port of Loading. Which means that the Buyer has to cover and pay for the Insurance of the goods from the moments the goods are loaded on the ship and transported to the Buyers port of Discharge.
CIF - Cost Insurance and Freight: Similar to CFR but here it is the Seller's duty to arrange all the insurance on behalf of the Buyer and pay the Insurance cost's/premium involved in the Shipping of the goods to the Buyer port of Discharge.
CIP -Carriage & Insurance Paid: - to (Named Destination): The Seller now has to obtain insurance to cover all risks to he named destination.
CPT - Carriage Paid To: The Seller pays the freight for the carriage of the goods to the named destination. The risks transfers to the Buyer when the goods are in the custody of the first carrier.
DAF - Delivery At Frontier: (To Named Place) The Seller's obligations end when the goods have arrived at the Frontier but before entering the customs process at the Country named in the contract.
DDP - Delivered Duty Paid: The Seller pays all costs involved in delivering the goods to the Buyer, with the exception of import duty, taxes and any other official charges levied at importation.
DDU - Delivered Duty Unpaid: The Seller pays all costs involved in delivering the goods to the Buyer, with the exception of import duty, taxes and any other official charges levied at importation.
DES - Delivered Ex-Ship: The Seller's responsibility for all charges to deliver the goods to the Port of destination named in the contract. The risk transfers to the Buyer on board ship.
DEQ - Delivered Ex-Quay: (Duty Paid) The Seller makes the goods available to the Buyer on the quay at the port of destination named in the contract the risk then transfers to the Buyer.
DBA - Duty on Buyers Account: In this variation the liability to clear the goods for import are met by the Buyer. "It is recommended that the full description is used to avoid misunderstandings. Do not rely on "Ex Quay" on its own".
for more detailed Incoterms info follow this excellent Wiki Link....