Key Terms for Global Trade
Export Terms
Learn key export terms used in bitumen trading. Understand essential shipping and logistics terminology to ensure clarity and compliance in global trade.
Clarity in Bitumen Export
Export Terms in Bitumen Trade
Exporting bitumen involves various technical and logistical terms that define responsibilities, documentation, and delivery methods.
Understanding these terms helps ensure clear communication between suppliers, freight forwarders, and international buyers.
At Bernet Bitumen, we believe in transparency, and that begins with understanding the language of global trade.
Common Export Terms Explained
FOB (Free on Board)
The seller delivers the goods on board the vessel nominated by the buyer at the port of shipment. Once the cargo is loaded, risk transfers to the buyer.
CFR (Cost and Freight)
The seller covers the cost and freight to the destination port, but the risk transfers once the goods are on board the vessel.
CIF (Cost, Insurance & Freight)
Similar to CFR, but the seller also provides marine insurance for the buyer’s benefit, covering potential loss or damage during transit.
EXW (Ex Works)
The buyer is responsible for all transport and export arrangements from the seller’s premises. Risk and cost transfer as soon as the goods are made available.
DAP (Delivered at Place)
The seller delivers the goods to a named destination, ready for unloading, with all transport costs covered.
Why Understanding Export Terms Matters
Each term defines who bears responsibility, risk, and cost during shipping.
Misinterpretation can lead to financial disputes, shipment delays, or compliance issues.
By mastering export terminology, you can ensure smoother operations and better negotiation outcomes.
Bernet Bitumen’s Commitment to Clear Trade
We prioritize transparency in every transaction.
Our documentation and communication are built around clear export terms, ensuring that our global clients always know their responsibilities and rights under each trade agreement.