Borgarplast uses the Incoterms 2010, ICC official rules for the interpretation of trade terms (ICC stands for International Chamber of Commerce). The most commonly used shipping terms from Borgarplast listed here below are for quick reference only. In case of any discrepancies from Incoterms 2010, refer to Incoterms 2010 only:

FCA – FREE CARRIER Borgarplast factory

Buyer picks up the goods at the Borgarplast factory.
Borgarplast delivers the goods onto a carrier or container.
After that the buyer is responsible for the goods and insurance and export documents.
Important note: Because the goods are sold without VAT the Bill of Landing (or Sea Waybill) must state that Borgarplast is the seller of the goods.

FAS – FREEALONGSIDE SHIP Reykjavík harbour

Borgarplast delivers the goods to the Reykjavík harbour.
After that the buyer is responsible for the goods and insurance and export documents.
Important note: Because the goods are sold without VAT the Bill of Landing (or Sea Waybill) must state that Borgarplast is the seller of the goods.

FOB – FREE ON BOARD Reykjavik harbour

Borgarplast delivers the goods over the ship’s rail at the Reykjavik harbour.
Borgarplast prepares the export documents.
After that the buyer is responsible for the goods and insurance.

CFR – COSTAND FREIGHT, (… named port of destination), land and sea freight.

Borgarplast delivers the goods aboard the vessel at the named port of destination (undischarged). Borgarplast prepares the export documents. The buyer is responsible for the insurance of the products after the goods leave the Borgarplast factory. The buyer is responsible for unloading the goods at the named location. This is the most common term of sale used in Borgarplast.

CIF – COST, INSURANCEAND FREIGHT (… named port of destination), land and sea freight.

Borgarplast delivers the goods aboard the vessel at the named port of destination (undischarged) and is responsible for the insurance up to that point. Borgarplast prepares the export documents. The buyer is responsible for unloading the goods at the named location.

CPT – CARRIAGE PAID TO, (… named place of destination), mixed transport, (carriage by rail, road, sea, air, inland waterway or a combination of such modes)

Borgarplast delivers the goods to a named place of destination. The buyer is responsible for the insurance of the products after they leave the Borgarplast factory. The buyer is responsible for unloading the goods at the named location.

CIP – CARRIAGE AND INSURANCE PAID TO (… named place of destination), mixed transport (carriage by rail, road, sea, air, inland waterway or a combination of such modes)

Borgarplast delivers the goods to a named place of destination and is responsible for the insurance up to that point. The buyer is responsible for unloading the goods at the named location.

DAP – DELIVERED AT PLACE (… named place of destination), mixed transport (carriage by rail, road, sea, air, inland waterway or a combination of such modes)

Borgarplast delivers the goods to a named place of destination. The buyer is responsible for the insurance of the products after they leave the Borgarplast factory. The buyer is responsible for unloading the goods at the named location. The buyer has to pay any additional costs and to bear any risks caused by his failure or delay to clear the goods for import in time. Borgarplast does not pay duties, VAT, taxes and other official charges payable upon importation.