The difference between transfer of ownership, title, delivery and risk

3. The difference between transfer of ownership, title, delivery and risk Transfer of Ownership: Determined by clauses in the contract - can happen at any time, even after delivery Transfer of Documents of Title: Specified in Incoterms - linked directly to the transfer of risk and delivery of the goods Note: The title-holder bears the risks of loss or damage Delivery = handing over the goods from one party to another Transfer of title = Taking delivery & transfer of risk

4. Each Incoterm determines:When and where the seller provides the goods to the buyer and when and where the buyer is obliged to pay the contracted priceObligations for export/import licences, duties, taxes, etc. Obligations to arrange and pay for transportation and insuranceConditions for delivery by the seller and acceptance by the buyerAllocation of responsibility for risk of loss or damageAllocation of costs associated with movement of the goodsProvisions regarding notices of delivery or dispatch of the goodsProof of delivery, transport documents or electronic messagesRequirements of seller to check quantity & conformance of goods with the contract and to provide suitable packaging and markingsObligations of mutual assistance, information and documentation

7. Incoterms – Point of delivery of the goods and transfer of risk Delivered at frontier DAF Upon delivery of goods at frontier (named place) - not unloaded Delivered ex ship When goods are placed at the disposal of the DES buyer on board the ship (named port of destination) Delivered ex quay When goods are placed at the disposal of the DEQ D buyer at the quay (named port of destination) Upon delivery of goods (at named place of Delivered duty unpaid DDU destination) not cleared for import and not unloaded DDP Upon delivery of goods cleared for import (at Delivered duty paid named place of destination), duty paid but not unloaded M10:U2:2.2-7