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Various terms are likely to be used on documents and by suppliers, shippers, insurance brokers and agents. These are referred to as INCOTERMS (international commercial terms). Go to SITPRO (The Simpler Trade Procedures Board) – www.sitpro.org.uk – the full list of terms. Here are main ones:
EXW – Ex-works
The seller must place the goods at the disposal of the buyer at the seller’s premises or another named place not cleared for export and not loaded on any collecting vehicle.
FCA – Free carrier
The seller must deliver the goods, cleared for export, to the carrier nominated by the buyer at the named place.
FOB – Free on board Named port of shipment – Maritime and inland waterway transport only
The seller delivers the goods, cleared for export, when they pass the ship’s rail at the named port of shipment.
CFR – Cost and freight Named port of destination – Maritime and inland waterway transport only
The seller delivers the goods when they pass the ship’s rail in the port of shipment and must pay the costs and freight necessary to bring the goods to the named port of destination.
CIF – Cost insurance and freight Named port of destination – Maritime and inland waterway transport only
The same as CFR except the seller must also procure insurance against the buyer’s risk of loss or damage during carriage.
CPT – Carriage paid to Named place of destination – Any mode of transport
The seller delivers the goods to the nominated carrier and must also pay the cost of carriage necessary to bring the goods to the named destination.
CIP – Carriage and insurance paid to Named place of destination – Any mode of transport
The obligations are the same as under CPT with the addition that the seller must procure insurance.
DAF – Delivered at frontier Named place of destination – Any mode of transport
The seller must place the goods at the disposal of the buyer on the arriving means of transport not unloaded, cleared for export but not cleared for import.
DES – Delivered ex-ship Named port of destination – Maritime and inland waterway transport only
The seller delivers when the goods are placed at the disposal of the buyer on board the ship, not cleared for import, at the named port of destination.
DEQ – Delivered ex-quay Named port of destination – Maritime and inland waterway transport only
The seller delivers when the goods are placed at the disposal of the buyer, not cleared for import, on the quay at the named port of destination.
DDU – Delivered duty unpaid Named place of destination – Any mode of transport
The seller must deliver the goods to the buyer, not cleared for import, and not unloaded at the named place of destination.
DDP – Delivered duty paid Named place of destination – Any mode of transport
The seller must deliver the goods to the buyer, cleared for import, and not unloaded at the named place of destination.
Making an order
The details of the order will need to include:
The key to successful importing lies in choosing the right supplier. To do this, you need to do some research. You can get information from a number of sources, including:
EXW – Ex-works
The seller must place the goods at the disposal of the buyer at the seller’s premises or another named place not cleared for export and not loaded on any collecting vehicle.
FCA – Free carrier
The seller must deliver the goods, cleared for export, to the carrier nominated by the buyer at the named place.
FOB – Free on board Named port of shipment – Maritime and inland waterway transport only
The seller delivers the goods, cleared for export, when they pass the ship’s rail at the named port of shipment.
CFR – Cost and freight Named port of destination – Maritime and inland waterway transport only
The seller delivers the goods when they pass the ship’s rail in the port of shipment and must pay the costs and freight necessary to bring the goods to the named port of destination.
CIF – Cost insurance and freight Named port of destination – Maritime and inland waterway transport only
The same as CFR except the seller must also procure insurance against the buyer’s risk of loss or damage during carriage.
CPT – Carriage paid to Named place of destination – Any mode of transport
The seller delivers the goods to the nominated carrier and must also pay the cost of carriage necessary to bring the goods to the named destination.
CIP – Carriage and insurance paid to Named place of destination – Any mode of transport
The obligations are the same as under CPT with the addition that the seller must procure insurance.
DAF – Delivered at frontier Named place of destination – Any mode of transport
The seller must place the goods at the disposal of the buyer on the arriving means of transport not unloaded, cleared for export but not cleared for import.
DES – Delivered ex-ship Named port of destination – Maritime and inland waterway transport only
The seller delivers when the goods are placed at the disposal of the buyer on board the ship, not cleared for import, at the named port of destination.
DEQ – Delivered ex-quay Named port of destination – Maritime and inland waterway transport only
The seller delivers when the goods are placed at the disposal of the buyer, not cleared for import, on the quay at the named port of destination.
DDU – Delivered duty unpaid Named place of destination – Any mode of transport
The seller must deliver the goods to the buyer, not cleared for import, and not unloaded at the named place of destination.
DDP – Delivered duty paid Named place of destination – Any mode of transport
The seller must deliver the goods to the buyer, cleared for import, and not unloaded at the named place of destination.
Making an order
The details of the order will need to include:
- Price
- Quantity
- Quality
- Delivery
- Packaging
- Payment terms
- Insurance
The key to successful importing lies in choosing the right supplier. To do this, you need to do some research. You can get information from a number of sources, including:
- Trade representation in the UK – many organisations with an interest in exporting to the UK have some sort of representation here or whose details may be found by contacting the relevant foreign Chamber of Commerce or commercial departments within an embassy or consulate.
- International trade exhibitions and fairs – these are a good source of suppliers willing to do business with UK companies.
- Trade associations, with their links to companies in the same market as you, can be a rich source of contacts and advice. They may also be able to warn you about specific market issues.
- Trade journals may carry details of exporters wanting to trade with the UK.
- The Internet is another important source of suppliers.
- Overseas agents or exporters – you may need to use an agent based in the country you want to import from to guide you through the necessary procedures.
- The merchandise – if the product you want to import is already available in the UK, there’s nothing to stop you checking the country of origin markings. Then get in touch with that country’s consulate or Chamber of Commerce for information on agents and factories to contact.
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