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INCOTERMS 2020
1. EXW – EX WORKS (NAMED PLACE) What does seller do: o Pack cargo o Load cargo to truck o Local transport o
Export customs clearance o Pay int’l transport o Pay insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o End risk at departure o End risk at destination
2. FCA – FREE CARRIER (NAMED PLACE) What does seller do: o Pack cargo o Load cargo to truck o
Local transport to named place o
Export customs clearance o Pay int’l transport o Pay insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o End risk at named place o End risk at destination
3. FAS – FREE ALONGSIDE SHIP (PORT OF LOADING) What does seller do: o Pack cargo o Load cargo to truck o Local transport to POL o Unload from the truck o
Export customs clearance o Pay int’l transport o Pay insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o
Finish risk at quay of POL o
Finish risk at destination
4. FOB – FREE ON BOARD (PORT OF LOADING) What does seller do: o Pack cargo o Load cargo to truck o Local transport to POL o Unload from the truck o
Export customs clearance o Pay int’l transport o Pay insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o
Finish risk at departure when on board o
Finish risk at destination
5. CFR – COST & FREIGHT (PORT OF DESTINATION) What does seller do: o Pack cargo o Load cargo to truck o Local transport o Unload from the truck o
Export customs clearance o P
ay ocean freight to POD o Pay insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o
Finish risk at departure when on board o
Finish risk at destination
6. CIF – COST INSURANCE FREIGHT (PORT OF DESTINATION) What does seller do: o Pack cargo o Load cargo to truck o Local transport to POL o Unload from the truck o
Export customs clearance o Pay ocean freight o Pa y insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o
Finish risk at departure when on board o
Finish risk at destination
7. CPT – CARRIAGE PAID TO (NAMED PLACE AT BUYER’S COUNTRY) What does seller do: o Pack cargo o Load cargo to 1ST truck o
Export customs clearance o
Pay int’l transport to named place o Pay insurance o Unload from vessel o
Import customs clearance o Pay import tax o Unload from truck o
Finish risk at departure when on 1 truck st o
Finish risk at destination
8. CIP – CARRIAGE INSURANCE PAID TO (NAMED PLACE AT BUYER’S) What does seller do: o Pack cargo o Load cargo to 1 st truck o Export customs clearance o Pay int’l transport o Pay insurance o Unload from vessel o Import customs clearance o Pay import tax o Unload from truck o Finish risk at departure when on 1 st truck o
Finish risk at destination
9. DAP – DELIVERED AT PLACE (NAMED PLACE AT BUYER’S) What does seller do: o Pack cargo o Load cargo to truck o Local transport o
Export customs clearance o Pay int’l transport o
Pay insurance (should buy) o Unload from vessel o
Abroad trucking from POD to named place o Unload from truck o
Import customs clearance o Pay import tax o
Finish risk at departure o
Finish risk at destination
10. DPU – DELIVERED AT PLACE UNLOADED (NAMED PLACE) What does seller do: o Pack cargo o Load cargo to truck o Local transport o
Export customs clearance o Pay int’l transport o
Pay insurance (should buy) o Unload from vessel o
Abroad trucking from POD to named place o Unload from truck o
Import customs clearance o Pay import tax o
Finish risk at departure o
Finish risk at destination
11. DDP – DELIVERED DUTY PAID (NAMED PLACE AT BUYER’S) What does seller do: o Pack cargo o Load cargo to truck o Local transport o
Export customs clearance o Pay int’l transport o
Pay insurance (should buy) o Unload from vessel o
Import customs clearance o Pay import tax o Abroad trucking o Unload from truck+ o
Finish risk at departure o
Finish risk at destination