Menu
Incoterms® is an acronym which stands for International Commercial Terms which contain a set of 11 individual rules issued by the International Chambers of Commerce (ICC). These rules define the responsibilities of buyers and sellers for the transport and delivery of goods in international and domestic contracts.
Each rule details the responsibilities between buyers and sellers with regards to tasks, costs, risk, responsibilities for cargo insurance and regulatory compliance.
EXW – Ex Works (insert place of delivery)
FCA – Free Carrier (Insert named place of delivery)
CPT – Carriage Paid To (Insert place of destination)
CIP – Carriage and Insurance Paid To (Insert place of destination)
DAP – Delivered at Place (Insert named place of destination)
DPU – Delivered at Place Unloaded (Insert named placed of destination)
DDP – Delivered Duty Paid (Insert named place of destination)
FAS – Free Alongside Ship (Insert name of port of loading)
FOB – Free on Board (Insert named port of loading)
CFR – Cost and Freight (Insert named port of destination)
CIF – Cost, Insurance, and Freight (Insert named port of destination)