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Incoterms, Risks & Costs
Find a selection of incoterms below
Incoterms
Seller Cost
Seller Risk
Buyer
EXW - Ex Works
Named place - Any mode of transport
The seller must place the goods at the disposal of the buyer at the seller's premises or another named place not cleared for export and not loaded on any collecting vehicle.
FCA - Free Carrier
Named place - Any mode of transport
The seller must deliver the goods, cleared for export, to the carrier nominated by the buyer at the named place
FAS - Free Alongside Ship
Named port of shipment - Maritime and inland waterway transport only
The seller must place the goods, cleared for export, alongside the vessel at the named port of shipment.
FOB - Free on Board
Named port of shipment - Maritime and inland waterway transport only
The seller delivers the goods, cleared for export, when they pass the ship's rail at the named port of shipment.
CFR - Cost and Freight
Named port of destination - Maritime and inland waterway transport only
The seller delivers the goods when they pass the ship's rail in the port of shipment and must pay the costs and freight necessary to bring the goods to the named port of destination. The buyer bears all additional costs and risks after the goods have been delivered (over the ship's rail at the port of shipment).
CIF - Cost Insurance and Freight
Named port of destination - Maritime and inland waterway transport only
TThe obligations are the same as under CFR with the addition that the seller must procure insurance against the buyer's risk of loss of, or damage to the goods during carriage.
CPT - Carriage Paid To
Named place of destination - Any mode of transport
The seller delivers the goods to the nominated carrier and must also pay the cost of carriage necessary to bring the goods to the named destination. The buyer bears all additional costs and risks after the goods have been delivered to the nominated carrier.
CIP - Carriage and Insurance Paid To
Named place of destination - Any mode of transport
The obligations are the same as under CPT with the addition that the seller must procure insurance against the buyer's risk of loss of, or damage to the goods during carriage.
DPU - Delivered at Place Unloaded
Named port or place of unloading - any mode of transport
Seller pays for carriage to the port or place of unloading, except for costs related to import clearance, and assumes all risks up to the point the goods are unloaded at the port, terminal or place of unloading.
DAP - Delivered at Place
Named place of destination - any mode of transport
Seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks prior to the point that the goods are ready for unloading by the buyer.
DDP - Delivered Duty Paid
Named place of destination - Any mode of transport
The seller must deliver the goods to the buyer, cleared for import, and not unloaded at the named place of destination
