Which kind of incoterm is fas

If agreed, the seller must contract the carrier. Carriage Contract the carriage from the place of delivery unless agreed the seller will contract the carrier. Insurance No obligation. Provide at buyers risk and cost, any required information. Insurance No obligation to insure the goods. Assist with import clearance 7. Pay for import clearance and formalities licenses, security, official documentation.

Checking The seller must check, count, weight, mark, and package goods 8. Checking No obligation. Allocation of cost Pay all the cost until delivery. Cost of proof of delivery. Duties and taxes for export. All costs related to providing assistance in obtaining documents to the buyer 9. Allocation of cost Pay from the time goods delivered. Includes recommended Incoterms and shipment documents. How they're determined and calculated varies from country to country".

You must fill the fields marked in red. Origin of Shipment. Destination of Shipment. Select an option Full container s. You must provide value for the fields marked in red. Total Weight Kg Lbs. Number of packages. Personal effects. The buyer is responsible for loading the goods on their transport and everything else necessary to get the goods to the final destination. The risk or liability for the goods transfers from the seller to the buyer when the goods are alongside the ship, and the buyer bears costs from that point forward.

FAS is normally used only in a few instances with bulk cargo, such as oil or grain. Except for a few undeveloped or small ports, rarely will you have access to drop things off right at the side of a ship, so this term is not commonly used for liner service.

It is sometimes used for charters, part charters, boat carriers, heavy lift or out-of-gage shipments where the actual loading of the vessel may be difficult. If you are regularly involved in international trade, you need to understand the risks and responsibilities for each of the Incoterms rules, not just pick the term you always use. If history is any indication, the Incoterms rules will be around for at least a decade.

Like what you read? Subscribe today to the International Trade Blog to get the latest news and tips for exporters and importers delivered to your inbox. This article was first published in July and has been updated and revised based on the changes made with the release of the Incoterms rules.

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