What are Incoterms?

INCOTERMS are a set of standard three-letter commercial terms most commonly used in international sales contracts. It is essential that you know your terms of sale before shipping.

EXW (EX Works)

EX Works EXW Designated Place Incoterms® 2010 – This term can be used for national or international trade.

FCA (Free Carrier)

Free Carrier FCA named place Incoterms® 2010 – This term can be used regardless of the mode or modes of transport used.

CPT (Carriage Paid To)

Postage paid to the place designated by the CPT Incoterms® 2010 – This term can be used regardless of the mode or modes of transport used.

CIP (Carriage & Insurance Paid)

Transport et assurance CIP payés au lieu de départ désigné Incoterms® 2010 – Ce terme peut être utilisé quel que soit le mode ou les modes de transport utilisés.

DAT (Delivered at Terminal)

Livré au terminal DAT nommé lieu Incoterms® 2010 – Ce terme peut être utilisé quel que soit le mode ou les modes de transport à utiliser.

DAP (Delivered at Place)

Delivered at place DAP named Incoterms® Location 2010 – This term can be used, regardless of the mode or modes of transport used.

DDP (Delivered Duty Paid)

Issued DDP cleared designated destination Incoterms® 2010 – This term may be used regardless of the mode or modes of transportation used.

FAS (Free Alongside Ship)

Free Alongside Ship FAS named Incoterms® 2010 Shipping Port – The seller delivers the goods when placed next to the designated vessel.

FOB (Free on Board)

Free On Board FOB named Incoterms® 2010 Port of Embarkation – There is a significant change from the meaning of this term in previous revisions

CFR (Cost & Freight)

Cost and Freight CFR named destination port Incoterms® 2010 – This rule is intended for use only when transport is by sea or inland waterway.

CIF (Cost Insurance & Freight)

CIF Cost of Insurance and Freight Incoterms® Destination Port 2010 – This term is to be used only when transport is by sea or inland waterway.