CIF (named port of destination) and CIP (named place of destination). FCA (named place of delivery) and FAS (named port of shipment). These Incoterms require the seller to complete all legal formalities and clearance of goods in the exporting country at its own cost. No risk or responsibility is transferred to the buyer until delivery of the goods at the named place of destination. Next week, we shall further discuss the role of Incoterms 2020 in cross-border transactions as it relates to the customs value of imported goods.

Source: Manila Times January 16, 2020 00:17 UTC