|BEL Incoterms||Description||Group||Standard 2010 Incoterms||Transport Mode||Export customs declaration||Carriage to port of export||Unloading of truck in port of export||Loading on vessel in port of export||Carriage (Sea/Air) to port of import||Insurance||Unloading in port of import||Loading on truck in port of import||Carriage to place of destination||Import customs clearance||Import taxes||Explanation|
|Warehouse storage at point of origin||Warehouse labor at point of origin||Loading at point of origin||Inland freight||Port receiving charges|
|EXW||Ex Works||E||Departure term||EXW||Any||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||The seller delivers when the goods are placed alongside the buyer's vessel at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment. The FAS term requires the seller to clear the goods for export, which is a reversal from previous Incoterms versions that required the buyer to arrange for export clearance. However, if the parties wish the buyer to clear the goods for export, this should be made clear by adding explicit wording to this effect in the contract of sale. This term can be used only for sea or inland waterway transport|
|UN||Not Free||(now EXW||Any||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Same as EXW, Not prefered.|
|FCA||Free Carrier||F||Shipment term- Main carriage unpaid||FCA||Any||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||The seller delivers the goods,
cleared for export, to the carrier nominated by the buyer at the named place.
It should be noted that the chosen place of delivery has an impact on the
obligations of loading and unloading the goods at that place. If delivery
occurs at the seller's premises, the seller is responsible for loading. If
delivery occurs at any other place, the seller is not responsible for
If the buyer nominates a person other than a carrier to receive the goods, the seller is deemed to have fulfilled his obligation to deliver the goods when they are delivered to that person.
|FAS||Free Alongside Ship||F||Shipment term- Main carriage unpaid||FAS||Sea||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||The seller delivers when the goods are placed alongside the buyer's vessel at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment. The FAS term requires the seller to clear the goods for export, which is a reversal from previous Incoterms versions that required the buyer to arrange for export clearance. However, if the parties wish the buyer to clear the goods for export, this should be made clear by adding explicit wording to this effect in the contract of sale. This term can be used only for sea or inland waterway transport|
|FOB||Free on board||F||Shipment term- Main carriage unpaid||FOB||Air/Sea||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||The seller must advance
government tax in the country of origin as off commitment to load the goods
on board a vessel designated by the buyer. Cost and risk are divided when the
goods are sea transport in containers (see Incoterms 2010, ICC publication 715).
The seller must instruct the buyer the details of the vessel and the port
where the goods are to be loaded, and there is no reference to, or provision
for, the use of a carrier or forwarder. This term has been greatly misused
over the last three decades ever since Incoterms 1980 explained that FCA
should be used for container shipments.
It means the seller pays for transportation of goods to the port of shipment, loading cost. The buyer pays cost of marine freight transportation, insurance, unloading and transportation cost from the arrival port to destination. The passing of risk occurs when the goods are in buyer account. The buyer arranges for the vessel and the shipper has to load the goods and the named vessel at the named port of shipment with the dates stipulated in the contract of sale as informed by the buyer.
|CFR||Costs and freight||C||Shipment term- Main carriage paid||CFR(CNF)||Sea||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||Seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the vessel. Insurance for the goods is NOT included. and This term is formerly known as CNF (C&F, C+F or CF).|
|CIF||Costs, insurance & freight||C||Shipment term- Main carriage paid||CIF||Sea||Seller||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Exactly the same as CFR except that the seller must in addition procure and pay for the insurance.|
|CPT||Carriage paid to||C||Shipment term- Main carriage paid||CPT||Any||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||The seller pays for carriage.
Risk transfers to buyer upon handing goods over to the first carrier at place
of shipment in the country of Export. The Shipper is responsible for origin
costs including export clearance and freight costs for carriage to named
place (usually destination port or airport). Shipper is not responsible for
buying Insurance and for delivery to final destination (buyer's facilities).
This term is used for all kind of shipments.
|CIP||Carriage and insurance paid t||C||Shipment term- Main carriage paid||CIP||Any||Seller||Seller||Seller||Seller||Seller||Seller||Buyer/Seller||Buyer/Seller||Buyer||Buyer||Buyer||The containerized transport/multimodal equivalent of CIF. Seller pays for carriage and insurance to the named destination point, but risk passes when the goods are handed over to the first carrier. CIP is used for intermodal deliveries & CIF is used for Sea|
|FOR||Free on Rail||----||Any||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||"F.O.R." and "F.O.T." mean "free on rail" or "free on truck." Both refer to goods being carried by rail and should only be used when the goods are carried by rail. The risk of loss or damage is transferred when the goods are loaded onto the rail.|
|DAF||Delivered at frontier||D||Arrival Terms||(now DAT)||Land||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Buyer||This term can be used when the goods are transported by rail and road. The seller pays for transportation to the named place of delivery at the frontier. The buyer arranges for customs clearance and pays for transportation from the frontier to his factory. The passing of risk occurs at the frontier.|
|DES||Delivered ex ship||D||Arrival Terms||(now DAT)||Sea||Seller||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||Buyer||Where goods are delivered ex ship, the passing of risk does not occur until the ship has arrived at the named port of destination and the goods made available for unloading to the buyer. The seller pays the same freight and insurance costs as he would under a CIF arrangement. Unlike CFR and CIF terms, the seller has agreed to bear not just cost, but also Risk and Title up to the arrival of the vessel at the named port. Costs for unloading the goods and any duties, taxes, etc. are for the Buyer. A commonly used term in shipping bulk commodities, such as coal, grain, dry chemicals; and where the seller either owns or has chartered, their own vessel.|
|DEQ||Delivered ex quay (duty paid)||D||Arrival Terms||(now DAT)||Sea||Seller||Seller||Seller||Seller||Seller||Seller||Buyer/Seller||Buyer||Buyer||Buyer||Buyer||This is similar to DES, but the passing of risk does not occur until the goods have been unloaded at the port of discharge|
|DAT||Delivered At Terminal||DAT||Any||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||Buyer||This term means that the seller covers all the costs of transport (export fees, carriage, insurance, unloading from main carrrier at destination port and destination port charges) and assumes all risk until destination port, import duty/taxes/customs costs to be borne by Buyer|
|DDU||Delivered Duty Unpaid||D||Arrival Terms||(now DAT)||Any||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Buyer||This term means that the seller delivers the goods to the buyer to the named place of destination in the contract of sale. A transaction in international trade where the seller is responsible for making a safe delivery of goods to a named destination, paying all transportation expenses but not the duty. The seller bears the risks and costs associated with supplying the goods to the delivery location, where the buyer becomes responsible for paying the duty and other customs clearing expenses|
|DAP||Delivered At Place||DAP||Any||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Buyer||Buyer||Can be used for any transport mode, or where there is more than one transport mode. The seller is responsible for arranging carriage and for delivering the goods, ready for unloading from the arriving conveyance, at the named place. Duties are not paid by the seller under this term (an important difference from Delivered At Terminal DAT, where the buyer is responsible for unloading).|
|DDP||Delivered Duty Paid||D||Arrival Terms||DDP||Any||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller/ Not incl.||Seller is responsible for delivering the goods to the named place in the country of the buyer, and pays all costs in bringing the goods to the destination including import duties and taxes. The seller is not responsible for unloading. This term is often used in place of the non-Incoterm "Free In Store (FIS)". This term places the maximum obligations on the seller and minimum obligations on the buyer. With the delivery at the named place of destination all the risks and responsibilities are transferred to the buyer and it is considered that the seller has completed his obligations|
|FH||Free house||FH||Any||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Seller||Exactly same as DDP, except that it is for any mode of Transport other than ship|
|* For more details refer||http://www.incotermsexplained.com/the-incoterms-rules/|
|* Exercise to determine best incoterm for||http://www.pierobon.org/export/ex11/index.htm|