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Incoterms

The International Chamber of Commerce (ICC) provides a detailed description of commonly used terms of sale. They are provided here for your easy reference.

For more information, please refer to incoterms.org.

Incoterms is a registred trademark of the International Chamber of Commerce

EXW - Exworks

Ex works represents minimum obligation of the seller.

FCA - Free Carrier

Designed to meet the requirements of multimodal transport, such as container or roll-on, roll-off traffic by trailers and ferries.

FAS - Free Alongside Ship

Requires buyer to clear goods for export and pay cost of loading.

FOB - Free On Board

Goods are placed on board ship by the seller at a port of shipment named in sales agreement.

CFR - Cost and Freight

Requires the seller to pay the costs and freight necessary to bring the goods to the named destination.

CIF - Cost, Insurance and Freight

The seller procures transport insurance against the risk of loss or damage to goods.

CPT - Carriage Paid To

The seller pays freight for the carriage of goods to named destination.

CIP - Carriage and Insurance Paid To

The seller procures transport insurance against the risk of loss or damage to goods during the carriage.

DAF - Delivered At Frontier

The seller's obligations are fulfilled when goods have arrived at the frontier but before the customs border of the country named in the sales contract.

DES - Delivered Ex Ship

The seller shall make goods available to the buyer on board the ship.

DEQ - Delivered Ex Quay

The seller has agreed to make goods available to the buyer on the quay or the wharf at destination.

DDU - Delivered Duties Unpaid

The seller bears all costs and risks involved in bringing goods to the point or place of named destination.

DDP - Delivered Duties Paid

Represents the seller's maximum obligation..