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Incoterms

Incoterms make international trade easier and help traders in different countries to understand one another. These standard trade definitions that are most commonly used in international contracts are protected by ICC copyright.

To assist traders to understand the areas that the 13 Incoterms cover and how each one works, the official ICC website now publishes the Preambles to each term in read-only format, together with basic information and background.

The Preambles do not spell out the obligations of buyer and seller, which are essential to correct use of Incoterms. This information may be obtained by consulting the full published texts of the 13 Incoterms, available from ICC Publishing and ICC national committees throughout the world.

Incoterms is developed, maintained and promoted by ICC Commission on Commercial Law and Practice (CLP).

Source: ICC (International Chamber of Commerce) http://www.iccwbo.org/
Ex Works
FCA - Free Carrier
FAS - Free Alongside Ship
FOB
CFR - Cost and Freight
Incoterms
CPT - Carriage Paid To
CIP - Carriage and Insurance Paid To
DAF - Delivered at Frontier
DES - Delivered Ex Ship
DEQ - Delivered Ex Quay (Duty Paid)
DDU - Delivered Duty Unpaid
DDP - Delivered Duty Paid




Ex Works

Title and risk pass to buyer including payment of all transportation and insurance cost from the seller's door. Used for any mode of transportation.

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FCA - Free Carrier

Title and risk pass to buyer including transportation and insurance cost when the seller delivers goods cleared for export to the carrier.Seller is obligated to load the goods on the Buyer's collecting vehicle; it is the Buyer's obligation to recieve the Seller's arriving vehicle unloaded.

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FAS - Free Alongside Ship

Title and risk pass to buyer including payment of all transportation and insurance cost once delivered alongside ship by the seller. Used for sea or inland waterway transportation. The export clearance obligation rests with the seller.

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FOB

Free On Board and risk pass to buyer including payment of all transportation and insurance cost once delivered on board the ship by the seller. Used for sea or inland waterway transportation.

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CFR - Cost and Freight

Title, risk and insurance cost pass to buyer when delivered on board the ship by seller who pays the transportation cost to the destination port. Used for sea or inland waterway transportation.

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Incoterms

Title and risk pass to buyer when delivered on board the ship by seller who pays transportation and insurance cost to destination port. Used for sea or inland waterway transportation.

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CPT - Carriage Paid To

Title, risk and insurance cost pass to buyer when delivered to carrier by seller who pays transportation cost to destination. Used for any mode of transportation.

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CIP - Carriage and Insurance Paid To

Title and risk pass to buyer when delivered to carrier by seller who pays transportation and insurance cost to destination. Used for any mode of transportation.

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DAF - Delivered at Frontier

Title, risk and responsibility for import clearance pass to buyer when delivered to named border point by seller. Used for any mode of transportation.

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DES - Delivered Ex Ship

Title, risk, responsibility for vessel discharge and import clearance pass to buyer when seller delivers goods on board the ship to destination port. Used for sea or inland waterway transportation.

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DEQ - Delivered Ex Quay (Duty Paid)

Title and risk pass to buyer when delivered on board the ship at the destination point by the seller who delivers goods on dock at destination point cleared for import. Used for sea or inland waterway transportation. DDU - Delivered Duty Unpaid -- Title, risk and responsibility of import clearance pass to buyer when seller delivers goods to named destination point. Used for any mode of transportation. Buyer is obligated for import clearance.

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DDU - Delivered Duty Unpaid

Seller fulfills his obligation when goods have been made available at teh named place in the country of importation

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DDP - Delivered Duty Paid

Title and risk pass to buyer when seller delivers goods to named destination point cleared for import. Used for any mode of transportation.

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