Incoterms

You might find the following list of Incoterms useful.

For a full description, or for more details of all Incoterms and conditions, please refer to the latest edition of Incoterms, published by the International Chamber of Commerce or visit www.iccwbo.org/incoterms.

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 he 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
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
DAT Delivered at Terminal – named terminal at port or 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 terminal at the named port or place of destination.
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.
EXW Ex Works – named place fulfils his obligation to deliver when he has made the goods available at his premises.
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 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 have passed over the ship’s rail at the named port of shipment.