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What Are Incoterms?
Incoterms, or International Commerce Terms, are rules and regulations set forth by the International Chamber of Commerce. Incoterms are used frequently in trade contracts, both international and domestic.
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Rules For Any Transport Mode
- EXW: Ex Works
- FCA: Free Carrier
- CPT: Carriage Paid To
- CIP: Carriage and Insurance Paid To
- DAT: Delivered At Terminal
- DAP: Delivered At Place
- DDP: Delivered Duty Paid
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Rules For Sea and Inland Waterway Transport
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The “Sea or Inland Waterway Only” rules are most commonly used for bulk goods such as oil, coal, and other goods which are not containerized. For other containerized goods, the “Any Mode of Transport” rules are more relevant.
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Incoterms 2010 Responsibility Chart
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