INCOTERMS are a set of three-letter standard trade terms most commonly used in international contracts for the sale of goods. It is essential that you are aware of your terms of trade prior to shipment.
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Incoterms
What are Incoterms?
EXW (EX Works)
EX Works EXW named place Incoterms® 2010 — This term may be used for either domestic or international trade.
FCA (Free Carrier)
Free Carrier FCA named place Incoterms® 2010 — This term may be used whatever mode or modes of transport will be used.
CPT (Carriage Paid To)
Carriage Paid To CPT named place Incoterms® 2010 — This term may be used whatever mode or modes of transport will be used.
CIP (Carriage & Insurance Paid)
Carriage and Insurance Paid CIP to named place Incoterms® 2010 — This term may be used whatever mode or modes of transport will be used.
DAT (Delivered at Terminal)
Delivered at Terminal DAT named place Incoterms® 2010 — This term may be used regardless of the mode or modes of carriage to be used.
DAP (Delivered at Place)
Delivered at Place DAP named place Incoterms® 2010 — This term may be used whatever mode or modes of transport will be used.
DDP (Delivered Duty Paid)
Delivered Duty Paid DDP named place of destination Incoterms® 2010 — This term may be used whatever mode or modes of transport may be used.
FAS (Free Alongside Ship)
Free Alongside Ship FAS named port of shipment Incoterms® 2010 — The seller delivers the goods when they are placed alongside the vessel nominated
FOB (Free on Board)
Free On Board FOB named port of shipment Incoterms® 2010 — There is a significant change from the meaning of this term in former revisions of
CFR (Cost & Freight)
Cost and Freight CFR named port of destination Incoterms® 2010 — This rule is intended for use only when carriage is by sea or inland waterway.
CIF (Cost Insurance & Freight)
Cost Insurance and Freight CIF named port of destination Incoterms® 2010 — This term is to be used only when carriage is by sea or inland waterway.