Reference category
Customs & trade terms
Reference material for customs & trade terms, grouped by set and paired with working tools.
Each entry states the definition, the facts and the practical caveats before linking to the matching tool.
Reference sets in this category (1)
All 11 entries
Incoterms 2020 Reference 11 entries
EXW — Ex WorksThe seller makes the goods available at its premises. The buyer collects, exports, insures, imports and delivers.
FCA — Free CarrierThe seller delivers the goods to the carrier nominated by the buyer, cleared for export, at the named place.
CPT — Carriage Paid ToThe seller pays carriage to the named destination, but risk passes when the goods are handed to the first carrier.
CIP — Carriage and Insurance Paid ToThe seller pays carriage and buys broad cargo insurance to the named destination; risk still passes at the first carrier.
DAP — Delivered at PlaceThe seller delivers the goods ready for unloading at the named place; the buyer clears import and pays duty.
DPU — Delivered at Place UnloadedThe seller delivers and unloads the goods at the named place; the buyer clears import and pays duty.
DDP — Delivered Duty PaidThe seller delivers to the named place with import cleared and duty paid; the seller is usually the importer of record.
FAS — Free Alongside ShipThe seller delivers the goods alongside the vessel at the named port; the buyer loads and pays the main carriage.
FOB — Free On BoardThe seller delivers the goods on board the buyer's vessel at the named port; the buyer pays the main carriage.
CFR — Cost and FreightThe seller pays freight to the destination port, but risk passes when the goods are on board at origin.
CIF — Cost, Insurance and FreightThe seller pays freight and buys minimum cargo insurance to the destination port; risk passes on board at origin.
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