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Peppe Santoro
Venture Legal Services
23 February 2011
Transfer of risk
Export clearance
Transport costs
Insurance
Use of carriers/forwarders
Import clearance
Security-related clearances
Electronic freight documentation
They do not deal with transfer of title and
this must be agreed separately
The EXW term is most favourable for sellers/exporters but does not
oblige buyer to provide any export information (which the seller
may need)
By contrast the DDP term is most favourable for buyers/importers
and obliges the seller to pay all transportation costs (but not
insurance) and duties and to bear all risk in the goods until they are
delivered
The remaining terms represent a spectrum of risk and
responsibility between EXW and DDP.
Advantages of Incoterms
Speed of negotiation
Common understanding
Comprehensive
Disadvantages of Incoterms
Other than the above, none that we have yet come across
(but were still looking)!
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Other resources
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Peppe Santoro
Venture Legal Services
77 Sir John Rogersons Quay
Dublin 2
www.venturelaw.ie
@VentureLawIE
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