Incoterm 2010:

INCOTERMS 2010 - The INCOTERMS (International Commercial Terms) is a universally recognized set
of definitions of international trade terms, defining the respective roles of the buyer and seller in the
arrangement of transportation and other responsibilities and clarify when the ownership of the
merchandise takes place. They are used in conjunction with a sales agreement or other method of
transacting the sale.

TERMS FOR ALL TRANSPORT MODE

EXW - Ex Works -- Title and risk pass to buyer including payment of all transportation and
insurance cost from the seller's door. Used for any mode of transportation.
FCA - Free Carrier -- Title and risk pass to buyer including transportation and insurance cost
when the seller delivers goods cleared for export to the carrier. Seller is obligated to load the
goods on the Buyer's collecting vehicle; it is the Buyer's obligation to recieve the Seller's arriving
vehicle unloaded.
CPT - Carriage Paid To -- Title, risk and insurance cost pass to buyer when delivered to
carrier by seller who pays transportation cost to destination. Used for any mode of transportation.
CIP - Carriage and Insurance Paid To --Title and risk pass to buyer when delivered to carrier
by seller who pays transportation and insurance cost to destination. Used for any mode of
transportation.
DAT - Delivered At Terminal -- Title and risk pass to buyer when seller delivers and unloads
goods at named terminal. Used for any mode of transportation.
DAP - Delivered At Place -- Title and risk pass to buyer when seller delivers goods to named
place ready for unloading. Used for any mode of transportation.
DDP - Delivered Duty Paid -- Title and risk pass to buyer when seller delivers goods to
named destination point cleared for import. Used for any mode of transportation.

TERMS FOR SEA/INLAND WATERWAY TRANSPORT ONLY

FAS - Free Alongside Ship --Title and risk pass to buyer including payment of all
transportation and insurance cost once delivered alongside ship by the seller. Used for sea or
inland waterway transportation. The export clearance obligation rests with the seller.
FOB - Free On Board and risk pass to buyer including payment of all transportation and
insurance cost once delivered on board the ship by the seller. Used for sea or inland waterway
transportation.
CFR - Cost and Freight -- Title, risk and insurance cost pass to buyer when delivered on
board the ship by seller who pays the transportation cost to the destination port. Used for sea or
inland waterway transportation.
CIF - Cost, Insurance and Freight -- Title and risk pass to buyer when delivered on board the
ship by seller who pays transportation and insurance cost to destination port. Used for sea or
inland waterway transportation.

Transport Obligations, costs and risks

INCOTERMS Carriage of Goods Risks Costs
EXW Carriage to be Risk transfer from the seller Cost transfer from the seller
arranged by the buyer to the buyer when the to the buyer when the goods
goods are at the disposal of are at the disposal of the
the buyer buyer
FCA Carriage to be Risk transfer from the seller
Cost transfer from the seller
arranged by the buyer to the buyer when the
to the buyer when the goods
or the seller on the goods have been delivered
have been delivered to the
buyer's behalf to the carrier at the named
carrier at the named place
place
CPT Carriage to be Risk transfer from the seller Cost transfer at port of
arranged by the seller to the buyer when the destination, buyer paying
goods have been delivered such costs as are not for the
to the carrier seller's account under the
contract of carriage
CIP arriage and insurance Risk transfer from the seller Cost transfer at port of
to be arranged by the to the buyer when the destination, buyer paying
seller goods have been delivered such costs as are not for the
to the carrier seller's account under the
contract of carriage
DAT Carriage to be Risk transfer from the seller Cost transfer from the seller
arranged by the seller to the buyer when the to the buyer when the goods
goods are delivered and are delivered and unloaded
unloaded at terminal at terminal
DAP Carriage to be Risk transfer from the seller
Cost transfer from the seller
arranged by the seller to the buyer when the
to the buyer when the goods
goods are delivered to
are delivered at named
named place ready for
place ready for unloading
unloading
DDP Carriage to be Risk transfer from the seller Cost transfer from the seller
arranged by the seller to the buyer when the to the buyer when the goods
goods are placed at the are placed at the disposal of
disposal of the buyer the buyer
FAS Carriage to be Risk transfer from the seller Cost transfer from the seller
arranged by the buyer to the buyer when the to the buyer when the goods
goods have been placed have been placed alongside
alongside the ship the ship
FOB Carriage to be Risk transfer from the seller Cost transfer from the seller
arranged by the buyer to the buyer when the to the buyer when the goods
goods pass the ship's rail pass the ship's rail
CFR Carriage to be Risk transfer from the seller Cost transfer at port of
arranged by the seller to the buyer when the destination, buyer paying
goods pass the ship's rail such costs as are not for the
seller's account under the
contract of carriage
CIF Carriage and insurance Risk transfer from the seller Cost transfer at port of
to be arranged by the to the buyer when the destination, buyer paying
seller goods pass the ship's rail such costs as are not for the
seller's account under the
contract of carriage