Incoterms

“Incoterms®” is an acronym standing for international commercial terms. “Incoterms®” is a trademark of the International Chamber of Commerce, registered in several countries.

The Incoterms® rules feature abbreviations for terms, like FOB (“Free on Board”), DAP (“Delivered at Place”) EXW (“Ex Works”), CIP (“Carriage and Insurance Paid To”), which all have very precise meanings for the sale of goods around the world.

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

SEA AND INLAND WATERWAY TRANSPORT

FAS | Free Alongside Ship

FOB | Free On Board

CFR | Cost and Freight

CIF | Cost Insurance and Freight