This code list defines the Incoterms used to specify the responsibilities of buyers and sellers for the delivery of goods under international trade. Incoterms determine the allocation of costs, risks, and obligations between the parties, including transport, insurance, and customs clearance.
| Code | Name/Description |
|---|---|
EXW |
Ex Works
The seller makes the goods available at their premises, and the buyer bears all costs and risks from that point onward. |
FCA |
Free Carrier.
The seller delivers the goods to a carrier or another party nominated by the buyer at an agreed place. |
CPT |
Carriage Paid To.
The seller pays for carriage to the named destination, but risk transfers to the buyer upon delivery to the carrier. |
CIP |
Carriage and Insurance Paid To.
The seller pays for carriage and insurance to the named destination, with risk transferring to the buyer upon delivery to the carrier. |
DAP |
Delivered At Place
The seller delivers the goods to the named place of destination, with the buyer responsible for import clearance and duties. |
DPU |
Delivered at Place Unloaded
The seller delivers and unloads the goods at the named place of destination. |
DDP |
Delivered Duty Paid.
The seller delivers the goods to the destination and is responsible for all costs and import duties. |
FAS |
Free Alongside Ship.
The seller delivers the goods alongside the vessel at the named port of shipment. |
FOB |
Free On Board.
The seller delivers the goods on board the vessel at the named port of shipment. |
CFR |
Cost and Freight.
The seller pays for the cost and freight to the destination port, with risk transferring once goods are on board. |
CIF |
Cost, Insurance, and Freight.
The seller pays for cost, insurance, and freight to the destination port, with risk transferring once goods are on board. |