Who carries the risk and cost at each Incoterm?

EXW: the buyer collects at the factory and bears everything from there, including loading. FOB: the seller delivers alongside the vessel at the named Chinese port; risk passes when the goods are on board, and the buyer pays freight, insurance, duty and clearance. CIF adds freight and insurance to the named destination port but still leaves duty and clearance with the buyer. DDP: the seller delivers to the buyer's named address with duty paid — the only term where the buyer receives a single all-in number. FOB and CIF are port-to-port, not door-to-door, which is why a CIF quote so often surprises a first-time importer with a second invoice for clearance.