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What are INCOTERMS?
INCOTERMS are a set of standard three-letter business terms most commonly used in international contracts for the sale of goods. It is essential that you know your terms of trade before shipment.
EXW (EX Works)
FCA (Free Carrier)
Free Carrier FCA place name Incoterms® 2010 - This term may be used regardless of the mode or modes of transportation used.
CPT (Carriage Paid To)
Carriage Paid To CPT named place Incoterms® 2010 - This term can be used regardless of the mode or modes of transportation that will be used.
CIP (Carriage & Insurance Paid)
Carriage and Insurance Paid CIP to named place Incoterms® 2010 - This term can be used regardless of the mode or modes of transportation that will be used.
DAT (Delivered at Terminal)
Delivered at Terminal DAT named place Incoterms® 2010 - This term can be used regardless of the mode or modes of transport to be used.
DAP (Delivered at Place)
Delivered at Place DAP named place Incoterms® 2010 - This term can be used regardless of the mode or modes of transportation that will be used.
DDP (Delivered Duty Paid)
Delivered Duty Paid DDP named place of destination Incoterms® 2010 - This term can be used whatever the mode or modes of transportation.
FAS (Free Alongside Ship)
Free Alongside Ship FAS named port of shipment Incoterms® 2010 - The seller delivers the goods when they are placed alongside the designated ship
FOB (Free on Board)
Free On Board FOB named port of shipment Incoterms® 2010 - There is a significant change in the meaning of this term in previous revisions
CFR (Cost & Freight)
Cost and Freight CFR named port of destination Incoterms® 2010 - This rule is designed to be used only when transportation is by sea or inland waterway.
CIF (Cost Insurance & Freight)
Cost Insurance and Freight CIF named port of destination Incoterms® 2010 - This term should be used only when transportation is by sea or inland waterways.