INCOTERMS 2010

This is a brief guide to outline some of the most commonly used terms in International Trade. If Incoterms 2010 are to be incorporated in to the sales contract it should clearly state to be
Incoterms 2010 and include a designated point of transfer.

Cost Obligations

Cost for Seller

Cost for Buyer

 

Insurance Risk

Risk for Seller

Risk for Buyer

Shared responsibility

 


Incoterms 2010

Loading at sellers premises

Export customs formalities

Pre-carriage

Handling at port of export

Carriage by Road; Rail; Sea; Air

Insurance

(main carriage)

Handling at final destination port

 

Off loading

Import Customs formalities, Duty/Taxes

On-carriage to final delivery point

 

EXW

Ex Works
(named place of delivery)

 

 

 

 

 

 

 

 

 

 

 

FCA

Free Carrier

(named place of delivery)

 

 

Unless contract states otherwise

 

 

 

 

 

 

 

 

CPT

Carriage Paid To
(named place of destination)

 

 

 

 

 

 

Unless
contract
states otherwise

 

Unless contract states otherwise

 

 

CIP

Carriage & Insurance Paid to

(named place of destination)

 

 

 

 

 

 

 

Unless contract
states otherwise

 

Unless contract states otherwise

 

 

 

DAT

Delivered At Terminal

(named terminal at port or place of destination)

 

 

 

 

 

 

 

 

 

 

 

DAP

Delivered At Place

(named place of destination)

 

 

 

 

 

 

 

 

 

 

Unless contract states otherwise

 

DDP

Delivered Duty Paid

(named place of destination)

 

 

 

 

 

 

 

 

 

 

 

 

Incoterms
Ocean Only

 

 

Loading at sellers premises


Export customs formalities


Pre-
carriage


Handling at port of export


Carriage by Road; Rail; Sea; Air


Insurance

(main carriage)


Handling at final destination port

 


Off loading


Import Customs formalities, Duty/Taxes


On-carriage to final delivery point

FAS

Free Alongside Ship

(named port of shipment)

 

 

 

 

 

 

 

 

 

 

 

FOB

Free On Board
(named port of shipment)

 

 

 

 

 

 

 

 

 

 

 

CFR

Cost & Freight
(named port of destination)

 

 

 

 

 

 

 

 

Unless contract
states otherwise

 

Unless contract states otherwise

 

 

 

CIF

Cost, Insurance & Freight
(named port of destination)

 

 

 

 

 

 

Unless contract
states otherwise

 

Unless contract states otherwise

 

 

 

 

Note concerning Export Packing:

Packing must be suitable for the method of export and final destination.

Specialise packaging may be required.

Cost of export packing is for the sellers account, unless otherwise detailed in your sales contract.

 

IMPORTANT:

This is a guide only. It is recommended you refer to the ICC publication of Incoterms 2010.