Incoterms

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".