USEFUL INFORMATION > INCOTERMS
INTERNATIONAL RULES FOR INTERPRETATION OF TRADE COMERCIAL TERMS

Incoterms (International Rules for the Interpretation of Trade Commercial Terms) are international terms used to interpret typical contractual formulas used in international trade. Created by the International Chamber of Commerce (ICC), the terms consist of standard trade definitions and establish the obligations of purchase and sale of good: the seller/exporter and the buyer/importer.

EXW - Ex Works
The seller minimizes its risk by only making the goods available at its own premises.

 

FCA - Free Carier
Unless otherwise agreed, the seller arranges and pays for any pre-carriage up to the point of delivery

 

CPT - Cariage Paid To
Seller contracts for main carriage up to named place/point of destination.

 

CIP - Carriage & Insurance Paid To
In addition to the obligations under CPT, the seller also contracts for insurance up to the names place/point of destination

 

DAT - Delivered At Terminal
Seller undertakes to place the goods at the disposal of the buyer unloaded from the arriving means of transport at the agreed place/point of destination

 

DAP - Delivered At Place
Seller undertakes to place the goods at the disposal of the buyer ready for unloading by the buyer at the agreed place/point of destination

 

DDP - Delivered Duty Paid
Seller undertakes to place the goods at the disposal of the buyer ready for unloading by the buyer at the agreed place/point of destination and to clear the goods for import & pay duty & other official charges (unless otherwise agreed)

 

FAS - Free Alongside Ship
Seller undertakes to place the goods alongside the ship nominated by the buyer

 

FOB - Free On Board
Seller undertakes to place the goods on board the ship nominated by the buyer

 

CFR - Cost And Freight
Seller arranges and pays for contract of carriage to the named port of destination

 

CIF - Cost, Insurance And Freight
In addition to obligations under CFS, the seller also contracts for insurance up to the named port of destination

 


  EXW FCA CPT CIP DAT DAP DDP FAS FOB CFR CIF
Cartage from Shipper                      
Warehouse Storage & Labour at Origin                      
Export Packing & Loading Charges                      
Forwaders Fees at Origin                      
Customs Charges at Origin                      
Terminal & Loading Charges at Origin                      
Freight from Port to Port                      
Terminal Charges at Destination                      
Forwaders Fees at Destination                      
Customs Clearance Fee                      
Duties & Taxes                      
Delivery to Consignee                      
                       
            Consignee:   Shipper: