The Incoterms® rules or International Commercial terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) widely used in international commercial transactions.
A series of three-letter trade terms related to common sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs and risks associated with the transportation and delivery of goods.
The Incoterms rules are accepted by governments, legal authorities and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries.
First published in 1936, the Incoterms rules have been periodically updated, with the eighth version—Incoterms 2010—having been published on January 1, 2011.
“Incoterms” is a registered trademark of the ICC.
CFR – Cost and Freight … (named port of destination)
CFR – Cost and Freight … (named port of destination) Characteristics In CFR the seller...
Read MoreCIF – Cost, Insurance and Freight paid to … (Port of Destination)
CIF – Cost, Insurance and Freight paid to … (Port of Destination) Characteristics In CIF...
Read MoreCIP – Carriage and Insurance paid to … (Place of Destination)
CIP – Carriage and Insurance paid to … (Place of Destination) Characteristics Under CIP terms,...
Read MoreCPT – Carriage paid to … (Place of Destination)
CPT – Carriage paid to … (Place of Destination) Characteristics In CPT the seller clears...
Read MoreDAP – Delivery at … (Place of Destination)
DAP – Delivery at … (Place of Destination) Characteristics In DAP, Delivery at Place, the...
Read MoreDAT – Delivery at Terminal … (Place of Destination)
DAT – Delivery at Terminal … (Place of Destination) Characteristics By using DAT, Delivery at...
Read MoreDDP – Delivery Duty Paid … (Place of Destination)
DDP – Delivery Duty Paid … (Place of Destination) Characteristics Under DDU the seller is...
Read MoreEXW – Ex Works
EXW – Ex Works … (named place) Characteristics Ex works terms makes the seller responsible...
Read MoreFAS – Free Alongside Ship … (Port of Shipment)
FAS – Free Alongside Ship … (Port of Shipment) Characteristics In FAS the seller clears...
Read MoreFCA – Free Carrier
FCA – Free Carrier … (Place at Origin) Characteristics FCA is the first of F...
Read MoreFOB – Free on Board … (Port of Shipment)
FOB – Free on Board … (Port of Shipment) Characteristics By using FOB the seller...
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