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Incoterms (International Commercial Terms)
Incoterms is an international standard on the most common rights and obligations of the buyer and seller in the international transport of goods, developed and published by the International Chamber of Commerce. Below you will find an overview of the most common Incoterms.
EXW = EX Works (Ex Factory)
All obligations are for the buyer, the seller makes the goods available
FCA = Free Carrier
The seller is only responsible for pre-transport and export formalities are at the expense of the seller
FAS = Free Alongside Ship
The seller takes care of the pre-transport and export formalities
FOB = Free On Board
The seller takes care of the pre-transport, export formalities and loading of the goods
CFR = Cost and Freight
Seller provides transport
CIF = Cost, Insurance and Freight
The seller bears the transport risk
CPT = Carriage Paid To (place of destination)
CIP = Carriage and Insurance Paid to (Freight-free incl. insurance to agreed destination)
DAP = Delivered At Place
Seller delivers goods to the named place in the country of import, taxes, customs, etc. at the buyer’s expense
DDP = Delivered Duty Paid
Seller delivers goods to the mentioned place in the country of import, incl. payment of taxes, customs clearance costs, etc.
If you have any questions or need advice on what the best Incoterm is for you, please contact Peter Groenewoud, he will be happy to help you. His email address is: peter.groenewoud@bfglogistics.com
