An abbreviation of INternational COmmercial Terms Published by ICC Paris (effective from Jan.

2011)
Incoterms Defines *For The first time now referred to as rules *Division of costs between buyers and sellers *Point at which the risk or loss or damage transfers from the seller to the buyer *Which party is responsible for export & import clearance Who uses them *Buyer and seller directly *Indirectly by Banks, Insurers and Carriers

INCOTERMS 2010
Provides clear, universal standards for Multi-Lingual , Multi-Cultural, Multi Legal usage very practical and based on business practices.

Any Mode or Modes of transport

Sea and Inland Waterways

Specifies if seller or buyer has the obligations (to arrange and cover any cost) for (transport) carriages, (cargo) insurance, and (trade) compliance.

EXW, FCA, CPT, CIP, DAP, DAT, DDP

FAS, FOB, CFR, CIF

[Incoterm Categories]

Any Mode Terms

Departure, Freight Collect

Controls of Costs

Main Carriage Costs Risk Of Costs

EXW (EX Works)

Main Carriage Freight Collect

Buyer

Buyer

Buyer

FCA (Free Carrier)

Main Carriage Freight Collect

Buyer

Buyer

Buyer

CIP (Carriage & Insurance Paid to) CPT (Carriage Paid to)
Arrive, Freight Prepaid

Seller Seller

Seller Seller

Buyer Buyer

DAT (Delivered at terminal) Seller

DAP (Delivered at place) Seller

Seller
Seller Seller

Seller
Seller Seller

DDP (Delivered Duty Paid) Seller