The Incoterms® rules, set by the International Chamber of Commerce (ICC), define the essential terms of trade for the sale of goods under worldwide contracts. Incoterms® 2020 consists of 11 rules divided into two groups: ‘Rules for any mode or modes of transport’ and ‘Rules for sea and inland waterway transport.’
Rules for any mode or modes of transport:
- EXW – Ex Works
- FCA – Free Carrier
- CPT – Carriage Paid to
- CIP – Carriage and Insurance Paid to
- DAP – Delivered at Place
- DPU – Delivered at Place Unloaded (NEW)
- DDP – Delivered Duty Paid
Rules for sea and inland waterway transport:
- FAS – Free Alongside Ship
- FOB – Free On Board
- CFR – Cost and Freight
- CIF – Cost, Insurance and Freight
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