What are the incoterms?
The word Incoterm comes from the term “International Commercial Terms”. This is the international selling conditions that allow to set the obligations between the seller and the buyer.
The last list was updated in 2010.
You can find below the incoterms by way of transportation
All the way of transport :
- EXW : EX Works.
- FCA : Free Carrier.
- CPT : Carriage Paid To.
- DAT : Delivered At Terminal.
- DAP : Delivered At Place.
- DDP : Delivered Duty Paid.
Maritime transport only :
- FAS : Free Alongside Ship.
- FOB : Free On Board.
- CFR : Cost and Freight.
- CIF : Cost, Insurance and Freighten.
Enforcement of the Incoterms
The following table sum up the different incoterms and their rules.
Each Incoterm is different and respect all the conditions relate to the insurance, the unload or even the convoy.
The blue parts correspond to the seller’s costs and the yellow parts correspond to the buyer’s cost.