Incoterms
You might find the following list of Incoterms® useful.
These Incoterms® 2020 are a brief outline and it is the responsibility of the seller and buyer to familiarise themselves of any respective Incoterms® in full.
For a full description or for more details of all Incoterms® and conditions, please refer to the latest edition of Incoterms® published in 2020, available for purchase from the International Chamber of Commerce (ICC). Please visit www.iccwbo.org.
| Term | Description | Means that the Seller…… |
|---|---|---|
| CFR | Cost and Freight – named port of destination | must pay the costs and freight necessary to bring the goods to the named port of destination. |
| CIF | Cost, Insurance and Freight – named port of destination | has the same obligations as under CFR but with the addition that the seller has to procure marine insurance. |
| CIP | Carriage and Insurance Paid To – named place of destination | delivers the goods to the carrier (or another person nominated by the seller) at an agreed place and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. |
| CPT | Carriage Paid To – named place of destination | pays the freight for the carriage of the goods to the named destination and transfers the risk to the buyer. |
| DAP | Delivered at Place – named place of destination | delivers the goods when they are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination. |
| DPU | Delivered at place unloaded – named place of destination | delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named place of destination. The seller bears all risks to that point. |
| DDP | Delivered Duty Paid – named place of destination | fulfils his obligation to deliver when the goods have been made available at the named place in the country of importation, including import duties & taxes etc, ready for unloading. |
| EXW | Ex Works – named place | fulfils his obligation to deliver when he has made the goods available at the disposal of the buyer at a named place.ie: Factory, warehouse. |
| FAS | Free Alongside Ship – named port of shipment | fulfils his obligation to deliver when the goods have been placed alongside the vessel on the quay at the named port of shipment. |
| FCA | Free Carrier – named place of delivery | fulfils his obligation to deliver when he has handed over the goods, cleared for export, into the charge of the carrier named by the Buyer at the named place. |
| FOB | Free On Board – named port of shipment | fulfils his obligation to deliver when the goods are on board the vessel at the named port of shipment. |
Incoterms® and the Incoterms® 2020 logo are trademarks of ICC. Use of these trademarks does not imply association with, approval of or sponsorship by ICC unless specifically stated above. The Incoterms® Rules are protected by copyright owned by ICC. Further information on the Incoterm® Rules may be obtained from the ICC website iccwbo.org.