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INCOTERMS Incoterms are internationally standardized terms of trade which enable seller and buyer to determine at which point the risk of ownership is transferred and which portion of the transport is to be paid by the seller and which by the buyer. Some of the most common Incoterms are: EXW: ex-works - buyer pays all transport costs from shipper's factory FCT: free carrier - seller pays to deliver goods to a carrier nominated by buyer FOB: free on board - seller pays to deliver goods on board an ocean vessel CFR: cost and freight - seller pays to deliver goods to an overseas port CIF: cost, freight and insurance - seller pays to deliver goods to an overseas port and pays insurance CPT: carriage paid to - seller pays to deliver goods to an overseas airport CIP: carriage and insurance paid to - seller pays to deliver goods to an overseas airport and pays insurance DDU: delivered duty unpaid - seller pays to deliver goods to buyer's plants excluding duties DDP: delivered duty paid - seller pays to deliver goods to buyer's plants including duties
For full details please contact our office or directly contact ICC Publishing in New York 212-206-1150 and request publication No. 560 "Incoterms".
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