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Incoterms

New Incoterms 2020 applicable from January 1, 2020:

Incoterms 2020 are the new rules of the International Chamber of Commerce on the interpretation of trade terms. It consists of 11 different terms which are separated into 2 groups; those applicable to all modes of transport and those only applicable to sea and inland waterway transport. The terms are to be agreed between a sender and a receiver of the goods.

New Incoterms 2020 applicable for all modes of transport
EXW: Ex works - (insert name of place)
FCA: Free carrier - (insert name of place)
CPT: Carriage paid to - (insert place & port of destination)
CIP: Carriage and insurance paid to - (insert place of point & port of destination)
DPU: Delivered unloaded - (insert named place)
DAP: Delivered at place - (insert named place)
DDP: Delivered duty paid - (insert named place)

New Incoterms 2020 only applicable for sea and inland waterway transport
FAS: Free alongside ship
FOB: Free on board
CFR: Cost and freight paid to (name of destination)
CIF: Cost, insurance and freight paid to (name of destination)

Incoterms 2020 infographic

Incoterms 2010

Applicable until 31 December 2019:

Incoterms 2010 applicable for all modes of transport
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


Incoterms 2010 only applicable for sea and inland waterway transport
FAS: Free alongside ship
FOB: Free on board
CFR: Cost and freight
CIF: Cost, insurance and freight

Incoterms 2010 infographic

Incoterms 2010Incoterms 2010