Who is responsible for paying duties, taxes, and handling customs clearance under various trade agreements?
Under EXW Incoterms, the buyer bears the full responsibility for import duties, taxes, customs clearance, as well as handling the exportation, freight, and importation processes, while the seller is only accountable for export packaging.
In FOB Incoterms, the buyer is liable for all customs clearance-related taxes and fees, along with any expenses and risks linked to dunnage, penalties, or delays.
With CIF Incoterms, the buyer is accountable for all import-related requirements, including customs clearance, duties, and taxes, and must also address any issues that may crop up during customs inspection or importation.