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What are the INCOTERMS?

April 26, 2017INCOTERMS

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What are the INCOTERMS?

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Developed by the International Chamber of Commerce (ICC), INCOTERMS are a codification of rules for the interpretation of sales terms used in export/import transactions. INCOTERMS 2000 is a collection of 13 internationally used terms of sale. They are as follows: Ex works (ExW-…named place) Free Carrier (FCA-…named place) Free Alongside Ship (FAS-…named port of shipment) Free on Board (FOB-…named port of shipment) Cost and Freight (CFR-…named port of destination) Cost, Insurance and Freight (CIF-…named port of destination) Carriage Paid To (CPT-…named place of destination) Carriage and Insurance Paid to (CIP-…named place of destination) Delivered at Frontier (DAF-…named place) Delivered Ex Ship (DES-…named port of destination) Delivered Ex Quay (DEQ…named port of destination) Delivered Duty Unpaid (DDU…named place of destination) Delivered Duty Paid (DDP…

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Posted

Developed by the International Chamber of Commerce (ICC), INCOTERMS are a codification of rules for the interpretation of sales terms used in export \ import transactions. INCOTERMS 2000 is a collection of 13 internationally used terms of sale. They are as follows: Ex works (ExW-…named place) Free Carrier (FCA-…named place) Free Alongside Ship (FAS-…named port of shipment) Free on Board (FOB-…named port of shipment) Cost and Freight (CFR-…named port of destination) Cost, Insurance and Freight (CIF-…named port of destination) Carriage Paid To (CPT-…named place of destination) Carriage and Insurance Paid to (CIP-…named place of destination) Delivered at Frontier (DAF-…named place) Delivered Ex Ship (DES-…named port of destination) Delivered Ex Quay (DEQ…named port of destination) Delivered Duty Unpaid (DDU…named place of destination) Delivered Duty Paid (DDP…

0

Posted

Developed by the International Chamber of Commerce (ICC), INCOTERMS are a codification of rules for the interpretation of sales terms used in export \ import transactions. INCOTERMS 2000 is a collection of 13 internationally used terms of sale.