Incoterms

Incoterms

Incoterms, short for International Commercial Terms, are a set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities and obligations of buyers and sellers in international trade transactions. These terms are widely used in contracts for the sale of goods and help clarify the allocation of risks, costs, and responsibilities between parties involved in the transaction. 

These are just a few examples of Incoterms, and there are others such as FCA (Free Carrier), CFR (Cost and Freight), DPU (Delivered at Place Unloaded), and more. It’s essential for parties involved in international trade to carefully select the appropriate Incoterms based on their specific requirements and negotiate terms that best suit their interests and obligations.

Incoterms

Incoterms, short for International Commercial Terms, are a set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities and obligations of buyers and sellers in international trade transactions. These terms are widely used in contracts for the sale of goods and help clarify the allocation of risks, costs, and responsibilities between parties involved in the transaction. 

These are just a few examples of Incoterms, and there are others such as FCA (Free Carrier), CFR (Cost and Freight), DPU (Delivered at Place Unloaded), and more. It’s essential for parties involved in international trade to carefully select the appropriate Incoterms based on their specific requirements and negotiate terms that best suit their interests and obligations.

Incoterms Load to truck Export- duty payment Transport to exporter’s port Unload from truck at port of origin Landing charges at port of origin Transport to importer’s port Landing charges at importer’s port Unload onto trucks from the importers’ port Transport to destination Insurance Entry – Customs clearance Entry – Duties and Taxes
EXW
No
No
No
No
No
No
No
No
No
No
No
No
FCA
Yes
Yes
Yes
Yes
No
No
No
No
No
No
No
No
FAS
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
No
No
FOB
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
CFR
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
Yes
No
No
CIF
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
CPT
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
CIP
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
DAF
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
DES
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
No
DEQ
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
No
No
DDU
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
DDP
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
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