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CUMOND Machinery follows standardized Incoterms ICT (International Commercial Terms) by ICC(International Chamber of Commerce) for our quotes.

EXW”Ex“means from. "Works" means factory, mill or warehouse, which is the seller's premises. EXW (Ex Works) applies to goods available only at the seller's premises. Buyer is responsible for loading the goods on truck or container at the seller's premises, and for the subsequent costs and risks.
FOBThe FOB price (free on board price) is the price of good delivered at the frontier of the exporting country. An FOB price includes all charges up to placing the goods on board a ship at the port of departure specified by the buyer. Also called collect freight, freight collect, or freight forward.
CIFThe CIF price (cost, insurance and freight price) is the price of a good delivered at the frontier of the importing country, including any insurance and freight charges incurred to that point before the payment of any import duties or other taxes on imports or trade and transport margins within the country. Buyer assumes the import customs clearance, payment of customs duties and taxes, and other costs and risks. Used for ocean freight only.
CIP
The CIP price (carriage and insurance paid price) is the price of a good delivered at the frontier of the importing country, including any insurance and freight charges incurred to that point before the payment of any import duties or other taxes on imports or trade and transport margins within the country. Buyer assumes the import customs clearance, payment of customs duties and taxes, and other costs and risks.
DDU(delivered duty unpaid) The delivery of goods and the cargo insurance to the final point at destination, which is often the project site or buyer's premises, at seller's expense. Buyer assumes the import customs clearance and payment of customs duties and taxes. The seller may opt not to insure the goods at his/her own risks.

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