INCOTERMS (INternational COmmercial TERMS) is designed as a convenient reference to Critical Points in the international transportation system. INCOTERMS represent a set of international rules for the interpretation of international commercial terms defining the risks, costs and responsibilities of buyers and sellers in international transactions.
EXW: EX WORKS
FCA: FREE CARRIER
CPT: CARRIAGE PAID TO
CIP: CARRIAGE AND INSURANCE PAID TO
DAT: DELIVERED AT TERMINAL (Seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of desitanation.)
DAP: DELIVERED AT PLACE (Seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination.)
DDP: DELIVERED DUTY PAID
FAS: FREE ALONGSIDE SHIP
FOB: FREE ON BOARD
CFR: COST AND FREIGHT
CIF: COST, INSURANCE AND FREIGHT
Above information is intended as a guide only. Please consult one of our specialists to ensure you are using the proper terms in your transactions.