Inco Terms used for movement of goods under Sea and Inland Water ways.
The marine restricted terms of delivery are FAS,FOB, CFR and CIF used to move goods by Sea and Inland waterways.
It is preferably used for the movement of goods by Sea and inland waterways. However, some of the traders use FOB for all modes of transport. Since Incoterms are rules and not Laws, there is no harm to use. However, the clear description on terms of delivery may be mentioned in the sale contract between buyer and seller on the terms of delivery of goods, the responsibility of buyer and seller to undertake risks and costs of the terms contracting each other.
You may click here to read below marine restricted terms of delivery under Incoterms 2020.
RULES FOR SEA AND INLAND WATERWAY TRANSPORT
FAS Free Alongside Ship
FOB Free On Board
CFR Cost and Freight
CIF Cost Insurance and Freight
The above are the 04 Inco Terms 2020 delivery terms used as marine restricted.
Click here to read other delivery rules under Inco terms
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