INCO TERMS
Understanding International Commercial Terms
Incoterms are a set of rules published by the International Chamber of Commerce (ICC) that define the responsibilities of sellers and buyers for the delivery of goods under sales contracts. They are widely used in international commercial transactions.
Ex Works
The seller makes the goods available at their premises. The buyer bears all costs and risks from there.
Free Carrier
The seller delivers the goods to a carrier or another person nominated by the buyer at the seller's premises or another named place.
Carriage Paid To
The seller delivers the goods to the carrier and pays for carriage to the named destination.
Carriage and Insurance Paid To
The seller delivers the goods to the carrier, pays for carriage and insurance to the named destination.
Delivered at Place
The seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named destination.
Delivered at Place Unloaded
The seller delivers when the goods are unloaded from the arriving means of transport and placed at the disposal of the buyer at a named destination.
Delivered Duty Paid
The seller delivers the goods when the goods are placed at the disposal of the buyer, cleared for import, and ready for unloading at the named destination.
Free Alongside Ship
The seller delivers when the goods are placed alongside the vessel at the named port of shipment.
Free on Board
The seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment.
Cost and Freight
The seller delivers the goods on board the vessel and pays the costs and freight necessary to bring the goods to the named port of destination.
Cost, Insurance and Freight
The seller delivers the goods on board the vessel, pays for freight and insurance to the named port of destination.