Incoterms 2020 — ICC

The 11 International Commercial Terms published by the International Chamber of Commerce, governing cost and risk transfer in our contracts.

Term	Name	Mode	Summary
EXW	Ex Works	Any mode	Buyer bears all cost/risk from seller's premises.
FCA	Free Carrier	Any mode	Seller delivers to carrier nominated by buyer at named place.
FAS	Free Alongside Ship	Sea/inland waterway	Seller delivers alongside the vessel at the named port.
FOB	Free On Board	Sea/inland waterway	Risk passes once goods are on board the vessel. Common for crude & products.
CFR	Cost and Freight	Sea/inland waterway	Seller pays freight to destination port; risk passes on board.
CIF	Cost, Insurance & Freight	Sea/inland waterway	As CFR plus minimum marine insurance. Common for cargoes.
CPT	Carriage Paid To	Any mode	Seller pays carriage to named destination; risk passes at handover.
CIP	Carriage & Insurance Paid To	Any mode	As CPT plus all-risk insurance to destination.
DAP	Delivered At Place	Any mode	Seller delivers ready for unloading at named place.
DPU	Delivered At Place Unloaded	Any mode	Seller delivers and unloads at named place.
DDP	Delivered Duty Paid	Any mode	Seller bears all cost/risk incl. import duties to destination.

Incoterms® is a registered trademark of the International Chamber of Commerce (ICC). This page is a simplified reference; the official ICC publication governs in case of conflict.

Incoterms 2020 — ICC

The 11 International Commercial Terms published by the International Chamber of Commerce, governing cost and risk transfer in our contracts.

Term	Name	Mode	Summary
EXW	Ex Works	Any mode	Buyer bears all cost/risk from seller's premises.
FCA	Free Carrier	Any mode	Seller delivers to carrier nominated by buyer at named place.
FAS	Free Alongside Ship	Sea/inland waterway	Seller delivers alongside the vessel at the named port.
FOB	Free On Board	Sea/inland waterway	Risk passes once goods are on board the vessel. Common for crude & products.
CFR	Cost and Freight	Sea/inland waterway	Seller pays freight to destination port; risk passes on board.
CIF	Cost, Insurance & Freight	Sea/inland waterway	As CFR plus minimum marine insurance. Common for cargoes.
CPT	Carriage Paid To	Any mode	Seller pays carriage to named destination; risk passes at handover.
CIP	Carriage & Insurance Paid To	Any mode	As CPT plus all-risk insurance to destination.
DAP	Delivered At Place	Any mode	Seller delivers ready for unloading at named place.
DPU	Delivered At Place Unloaded	Any mode	Seller delivers and unloads at named place.
DDP	Delivered Duty Paid	Any mode	Seller bears all cost/risk incl. import duties to destination.

Incoterms® is a registered trademark of the International Chamber of Commerce (ICC). This page is a simplified reference; the official ICC publication governs in case of conflict.