Incoterms are a set of International rules for the interpretation of commonly used trade terms, eliminating or reducing the uncertainties of different interpretations of these terms in different countries. Incoterms 2000 contain 13 rules for standardized global trade, defining the most important responsibilities of buyers and sellers in International sales contracts.

The specification of Incoterms 2000 on all contracts allow buyers and sellers to ensure the new Incoterms are being applied and clearly identify source of reference for the definition. Variations in local Trades, ports and customs are possible. For detailed interpretation of these terms please refer directly to the International Chamber of Commerce at www.iccwbo.org.

Group E
EXW EX Works (...named place)

Group F
FCA Free CArrier (...named place)
FAS Free Alongside Ship (...named port of shipment)
FOB Free On Board (...named port of shipment)

Group C
CFR Cost and Freight (...named port of destination)
CIF Cost, Insurance and Freight (...named port of destination)
CPT Carriage Paid To (duty paid) (...named place of destination)
CIP Carriage and Insurance Paid to (...named place of destination)

Group D
DAF Delivered At Frontier (...named place)
DES Delivered Ex Ship (...names port destination)
DEQ Delivered Ex Quay (...named port of destination)
DDU Delivered Duty Unpaid (...name place of destination)
DDP Delivered Duty Paid (...named place of destination)

EXW

• Carriage to be arranged by the buyer.
• Risk transfer from the seller to the buyer when the goods are at disposal of the buyer.
• Cost transfer from the seller to the buyer when the goods are at disposal of the buyer.

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FCA

• Carriage to be arranged by the buyer or by the seller on the buyer’s behalf.
• Risk transfer from the seller to the buyer when the goods have been delivered to the carrier at the named place.
• Cost transfer from the seller to the buyer when the goods have been delivered to the carried at the named place.

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FAS

• Carriage to be arranged by the buyer.
• Risk transfer from the seller to the buyer when the goods have been placed alongside the ship.
• Cost transfer from the seller to the buyer when the goods have been placed alongside the ship.

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FOB

• Carriage to be arranged by the buyer.
• Risk transfer from the seller to the buyer when the goods pass the ship’s rail.
• Cost transfer from the seller to the buyer when the goods pass the ship’s rail.

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CFR

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods pass the ship’s rail.
• Cost transfer at port of destination, buyer paying such costs as are not for the seller’s account under the contract of carriage.

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CIF

• Carriage and insurance to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods pass the ship’s rail.
• Cost transfer at port of destination, buyer paying such costs as are not for the seller’s account under the contract of carriage.

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CPT

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods have been delivered to the carrier.
• Cost transfer at place of destination, buyer paying such costs as are not for the seller’s account under the contract carriage.

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CIP

• Carriage and insurance to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods have been delivered to the carrier.
• Cost transfer at place of destination, buyer paying such costs as are not for the seller’s account under the contract of carriage.

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DAF

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods have been delivered at the frontier.
• Cost transfer from the seller to the buyer when the goods have been delivered at the frontier.

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DES

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods are placed at the disposal of the buyer on board the ship.
• Cost transfer from the seller to the buyer when the goods are placed at the disposal of the buyer on board the ship.

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DEQ

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods are placed at the disposal of the buyer on the quay.
• Cost transfer from the seller to the buyer when the gods are placed at the disposal of the buyer on the quay.

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DDU

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods are placed at the disposal of the buyer.
• Cost transfer from the seller to the buyer when the goods are placed at the disposal of the buyer.

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DDP

• Carriage to be arranged by the seller.
• Risk transfer from the seller to the buyer when the goods are placed at the disposal of the buyer.
•  Cost transfer from the seller to the buyer when the goods are placed at the disposal of the buyer.

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