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Incoterms - International Terms of Trade

The purpose of Incoterms is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree.The scope of Incoterms is limited to matters relating to the rights and obligations of the parties to the contract of sale with respect to the delivery of goods. Incoterms deal with a number of identified obligations imposed on the parties and the distribution of risk between the parties. In total 15 Incoterms have been defined which are grouped into four basically different categories, applicable for sea and inland waterway transport or for all modes of transport.

Click on abbreviation for information.

EXW: Ex Works (...named place)

FCA: Free Carrier (...named place)

FAS: Free Alongside Ship (...named port of shipment)

FOB: Free On Board (... named port of shipment)

CFR: Cost and Freight (... named port of destination)

CIF: Cost, Insurance and Freight (... named port of destination)

CPT: Carriage Paid To (... named place of destination)

CIP: Carriage and Insurance Paid To (... named place of destination)

DAT: Delivered At Terminal (... named place)

DAP: Delivered At Place (... named place)

DAF: Delivered At Frontier (... named place)

DES: Delivered Ex Ship (... named port of destination)

DEQ: Delivered Ex Quay (... named port of destination)

DDU: Delivered Duty Unpaid (... named place of destination)

DDP: Delivered Duty Paid (... named place of destination)