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Inco Terms
Incoterms® rules for International Trade
The Incoterms® rules, set by the International Chamber of Commerce (ICC), define the essential terms of trade for the sale of goods under worldwide contracts. Incoterms® 2020 consists of 11 rules divided into two groups: 'Rules for any mode or modes of transport' and 'Rules for sea and inland waterway transport.’ Rules for any mode or modes of transport:
EXW - Ex Works
FCA - Free Carrier
CPT - Carriage Paid to
CIP - Carriage and Insurance Paid to
DAP - Delivered at Place
DPU - Delivered at Place Unloaded (NEW)
DDP - Delivered Duty Paid
Rules for sea and inland waterway transport:
FAS - Free Alongside Ship
FOB - Free On Board
CFR - Cost and Freight
CIF - Cost, Insurance and Freight
