Incoterms

ICC’s Incoterms® rules for international trade

The Incoterms® rules, set by the International Chamber of Commerce (ICC), define the essential terms of trade for the sale of goods under worldwide contracts. Incoterms® 2020 consists of 11 rules divided into two groups: 'Rules for any mode or modes of transport' and 'Rules for sea and inland waterway transport.’

Rules for any mode or modes of transport:

• EXW - Ex Works
• FCA - Free Carrier
• CPT - Carriage Paid to
• CIP - Carriage and Insurance Paid to
• DAP - Delivered at Place
• DPU - Delivered at Place Unloaded (NEW)
• DDP - Delivered Duty Paid

Rules for sea and inland waterway transport:

• FAS - Free Alongside Ship
• FOB - Free On Board
• CFR - Cost and Freight
• CIF - Cost, Insurance and Freight

For more information on Incoterms® 2020, please refer to the ICC website:

https://iccwbo.org/resources-for-business/incoterms-rules/incoterms-2020/