Incoterms 2010 for fish and seafood wholesale logistics

Incoterms is an acronym meaning "International commercial terms". The latest standard - Incoterms 2010 - provides the full set of rules used by wholesale fish and seafood companies while negotiating terms and conditions for product delivery: both frozen and fresh fish and seafood. In short the standard can be described by the following info graphics

• EXW (Ex Works). Fish and seafood wholesaler places the products at the seller’s premises or in another named place (i. e. in a factory or warehouse, etc.). The seller does not need to load the fish and seafood on any vehicle for collection, nor does it need to clear the products for export, if applicable
• FCA (Free Carrier). The supplier of fish and seafood delivers the products to a transport company designated by the buyer at the seller’s location or on another agreed delivery basis
• CPT (Carriage Paid To) The supplier of fish and seafood delivers the products to a carrier designated by the seller in the agreed place (if such a place is agreed by the parties). The supplier must enter into a contract and pay the shipping costs necessary for delivering the products to the named delivery basis place
• CIP (Carriage And Insurance Paid To) The wholesale supplier delivers the fish or seafood to the carrier or another person designated by the seller at the agreed place, and the seller must enter into an agreement and pay the shipping costs necessary to deliver the goods to the specified place of delivery
• CIP (Carriage And Insurance Paid To) The wholesale supplier delivers the fish or seafood to the carrier or another person designated by the seller at the agreed place, and the seller must enter into an agreement and pay the shipping costs necessary to deliver the goods to the specified place of delivery The supplier also concludes a contract for insurance coverage against the risk of loss or damage to the fish and seafood products during transportation. The fish and seafood buyer should note that in accordance with CIP, the supplier is obliged to receive insurance only with minimal coverage. If the buyer wishes to receive additional insurance protection, he must either agree with the seller about this or enter into his own additional insurance agreements. Using YORSO our specialists can always find right insurance and finance conditions with the set of partners across the globe.
• DAT (Delivered At Terminal) The wholesale supplier of fish and seafood delivers when products unloaded from arriving vehicles are handed over to the buyer at a named terminal at a named port or destination. The terminal includes a place such as a berth, warehouse, container yard or road, rail or air cargo terminal. Suppliers bear all the risks associated with the delivery of fish and seafood and their unloading at the terminal in the named port or place of delivery
• DAP (Delivered At Place) The wholesaler of fish and seafood delivers when products are made available to the buyer on arriving vehicles ready for unloading at the named place of destination. The supplier bears all the risks associated with the delivery of fish and seafood to a specified place.
• DDP (Delivered Duty Paid) The supplier of fish and seafood delivers the products, when they are made available to the buyer, cleared for import on arriving vehicles ready for unloading at the named destination. The seller of fish and seafood bears all costs and risks associated with the delivery of products to the destination, and is obliged to clear the goods not only for export but also for import, pay any duty for both export and import, and complete all the formalities.

SPECIAL RULES FOR SEA AND INLAND WATERWAY TRANSPORT WHILE TRANSPORTING FISH AND SEAFOOD

• FAS (Free Alongside Ship) The wholesaler of fish and seafood delivers when goods are placed near the vessel (for example, on a quay or barge) designated by the buyer at the named port of delivery. The risk of loss or damage to the products passes when the goods are close to the vessel, and from that moment the buyer bears all costs.
• FOB (Free On Board) The fish and seafood wholesaler delivers the products on board of the vessel designated by the buyer at the named port of delivery or purchases goods already delivered. The risk of loss or damage to the products passes when the fish and seafood is on board the vessel, and from that moment the buyer bears all costs.
• CFR (Cost and Freight) The fish and seafood supplier delivers the products on board the vessel or buys the goods already so delivered. The risk of loss or damage to the goods passes when the goods are on board. Supplier must enter into a contract and pay the costs and freight required to deliver the fish and seafood to the specified port of destination.
• CIF (Cost, Insurance and Freight) The supplier of fish and seafood delivers the goods on board the vessel or buys goods already delivered. The risk of loss or damage to fish and seafood passes when the product is on board a vessel. The wholesaler of fish and seafood must conclude a contract and pay the costs and freight necessary for the delivery of products to the specified port of destination. The seller of fish and seafood also contracts for insurance against the risk of loss or damage to products during transport. The wholesale fish and seafood buyer should note that in accordance with CIF, the supplier is obliged to receive insurance only with minimal coverage. If the buyer wishes to receive additional insurance protection, he must either agree with the seller about this or enter into his own additional insurance agreements.

Online platform YORSO allows to negotiate all incoterms conditions in advance so the fish and seafood buyer and supplier already know what to expect during delivery and order execution. All the terms are usually available online on our B2B fish and seafood wholesale marketplace and can be directly accessed inside the product catalog.

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