This introduction explains what the Incoterms® 2020 rules do and do NOT do and how they are best incorporated.
It sets out the important fundamentals of the Incoterms® rules: the basic roles and responsibilities of seller and buyer, delivery, risk, and the relationship between the Incoterms® rules and the contracts surrounding a typical contract of sale for export/import and also, where appropriate, for domestic sales.
The text explains how best to choose the right Incoterms® rule for the particular sale contract; and sets out the central changes between Incoterms® 2010 and Incoterms® 2020.
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
- 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