List of Incoterms

EXW: Ex Works (designated place): the seller makes the goods available at his premises.

FCA: Free Carrier (designated place): the seller hands over the goods, cleared for export, into the custody of the first carrier (named by the buyer) at the designated place. This term is suitable for all modes of transport, including carriage by air, rail, road, and containerized / multi-modal transport.

FAS: Free Alongside Ship (designated loading port): the seller must place the goods alongside the ship at the designated port. The seller must clear the goods for export; (this changed in the 2000 version of the Incoterms.) Suitable for maritime transport only.

FOB: Free On Board (designated loading port):an often-used maritime trade term, Free On Board: seller must load the goods on board the ship nominated by the buyer, cost and risk being divided at ship's rail. The seller must clear the goods for export. Applicable to maritime transport only.

CFR: Cost and Freight (designated destination port): seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods have crossed the ship's rail. Applicable to maritime transport only.

CIF: Cost, Insurance and Freight (designated destination port): the same as CFR except that the seller must in addition procure and pay for insurance for the buyer. Applicable to maritime transport only.

CPT: Carriage Paid To (designated place of destination): the general/containerized/multimodal equivalent of CFR. The seller pays for carriage to the designated point of destination, but the risk transfers when the goods are handed over to the first carrier.

CIP: Carriage and Insurance Paid to (designated place of destination): the containerized transport/multimodal equivalent of CIF. Seller pays for carriage and insurance to the named destination point, but risk transfers when the goods are handed over to the first carrier.

CTO: Container Terminal Order.

DAF: Delivered At Frontier (designated place): It can be used when the goods are transported by rail and road. The seller pays for transportation to the designated place of delivery at the frontier. The buyer arranges for customs clearance and pays for transportation from the frontier to his factory. The transfer of risk occurs at the frontier.

DES: Delivered Ex Ship (designated port): Where goods are delivered ex ship, the transfer of risk does not occur until the ship has arrived at the designated port of destination, and the goods are made available for unloading to the buyer. The seller pays the same freight and insurance costs as he would under a CIF arrangement. Unlike CFR and CIF terms, the seller has agreed to bear not just cost, but also Risk and Title up to the arrival of the vessel at the designated port. Costs for unloading the goods and any duties, taxes, etc. are for the Buyer. A commonly used term in shipping bulk commodities, such as coal, grain, and dry chemicals, and where the seller either owns or has chartered their own vessel.

DEQ: Delivered Ex Quay (designated port): It means the same as DES, but the transfer of risk does not occur until the goods have been unloaded at the port of destination.

DDU: Delivered Duty Unpaid (designated destination place): This means that the seller delivers the goods to the buyer to the designated place of destination in the contract of sale. The goods are not cleared for import or unloaded from any form of transport at the place of destination. The buyer is responsible for the costs and risks for the unloading, duty and any subsequent delivery beyond the place of destination. However, if the buyer wants the seller to bear cost and risks associated with the import clearance, duty, unloading and subsequent delivery beyond the place of destination, then this all needs to be explicitly agreed on in the contract of sale.

DDP: Delivered Duty Paid (designated destination place): It means that the seller pays for all transportation costs and bears all risk until the goods have been delivered and also pays the duty. Often used interchangeably with the term "Free Domicile".