Incoterms & procedures
Choose a delivery term to see who pays, who carries the risk and how our procedure runs step by step.
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Incoterms® 2020Who pays and who
Who pays and who
carries the risk.
Free On Board
The seller delivers the goods on board the vessel at the port of loading. Costs and risk transfer to the buyer once the cargo is on board.
Cargo insurance arranged byBuyer
Our procedure
- 1LOI and KYC on both sides
- 2Full Corporate Offer and SPA
- 3Buyer nominates the vessel and issues the payment instrument
- 4Loading at the port of loading under independent inspection
- 5Seller presents the shipping documents; payment is released
Seller’s site
Port of loading
On board vessel
Port of destination
Buyer’s named place
Costs paid by seller
Risk carried by seller
Delivery point determines risk transfer.
Simplified view based on Incoterms® 2020. The contract (SPA) always governs.
Need an NCNDA first?
When brokers or mandates are part of the chain, an NCNDA protects every party before details are shared.