“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
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