EXW (Ex Works)

The seller makes the goods available at their premises or another named place (factory, warehouse, etc.). The buyer bears all risks and costs from that point onward, including transport, insurance, and export duties.

FCA (Free Carrier)

The seller delivers the goods to a carrier or another person nominated by the buyer at the seller’s premises or another named place. The seller is responsible for export clearance, but the buyer takes on the risks and costs once the goods have been handed over to the carrier.

CPT (Carriage Paid To)

The seller pays for the carriage of the goods to the named destination. However, the risk transfers to the buyer upon handing over the goods to the first carrier. The buyer is responsible for insurance.

CIP (Carriage and Insurance Paid To)

The seller pays for the carriage of goods to the named destination and must also procure insurance against the buyer’s risk of loss or damage to the goods during transit. Again, the risk transfers to the buyer once the goods are handed over to the first carrier.

DPU (Delivered at Place Unloaded)

The seller delivers the goods and unloads them at the named place of destination. The seller bears all risks and costs of bringing the goods to and unloading them at the named place of destination. DPU is the only Incoterm that requires the seller to unload the goods at the destination.

DAP (Delivered at Place)

The seller delivers when the goods are made available to the buyer on the arriving means of transport ready for unloading at the named place of destination. The seller bears all risks and costs associated with delivering the goods to the named place.

DDP (Delivered Duty Paid)

The seller delivers the goods to the buyer, cleared for import and not unloaded from any arriving means of transport at the named place of destination. The seller bears all risks and costs including duties, taxes, and other charges for delivering the goods to the destination.

FAS (Free Alongside Ship)

The seller delivers when the goods are placed alongside the vessel at the named port of shipment. The buyer bears all risks and costs from that moment onwards.

FOB (Free On Board)

The seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment. The risk of loss or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that point.

CFR (Cost and Freight)

The seller pays for the cost and freight to bring the goods to the port of destination. However, the risk is transferred to the buyer once the goods are on board the vessel.

CIF (Cost, Insurance, and Freight)

The seller pays for the cost, insurance, and freight to bring the goods to the port of destination. The seller is required to procure marine insurance against the buyer’s risk of loss or damage to the goods during the carriage.