International Commercial Terms are designed to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade.
INCO Terms are grouped into four different categories:
E-Terms: Where the seller makes the goods available to the buyer at the seller's own premises (Ex-Works).
F-Terms: Where the seller is obligated to deliver the goods to the carrier appointed by the buyer (FCA).
C-Terms: Where the seller contracts and pays for the transportation to a named port (CIF).
D-Terms: Where the seller pays all costs and accepts all risks to deliver the goods to an agreed upon point (DDP).
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
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 & Freight
The "Incoterms® 2020" booklet can be ordered from:
Incoterms® 2020 - ICC - International Chamber of Commerce (iccwbo.org)