Inco TermsSHIPPING INCO TERMS
Incoterms are internationally standardized terms of trade which enables seller and buyers to determine at which point the risk of ownership is transferred and which portion of the transport is to be paid by the seller and which by the buyer.
Interpretation of Inco Terms
| EXW | Ex-Works | Buyer pays all transport costs from shipper's factory |
| FCA | Free Carrier | Seller pays to deliver goods to a carrier nominated by the buyer |
| FAS | Free Alongside Ship |
Seller pays to deliver goods along side the vessel nominated
by the buyer |
| FOB | Free On Board | Seller pays to deliver goods on board an Ocean vessel |
| CFR | Cost and Freight | Seller pays to deliver goods to an Overseas Port |
| CIF |
Cost, Insurance and Freight |
Seller pays to deliver goods to an Overseas Port including insurance |
| CPT | Carriage Paid To | Seller pays to deliver goods to an Overseas Airport |
| CIP |
Carriage and Insurance Paid to |
Seller pays to deliver goods to an Overseas Airport including insurance |
| DAT | Delivered At Terminal |
Seller pays to deliver goods to and Overseas Airport/Port
including destination Terminal |
| DAP | Delivered At Place | Seller pays to deliver goods to buyers warehouse excluding duties |
| DDP | Delivered Duty Paid | Seller pays to deliver goods to buyers warehouse including duties |
