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.: Incoterms - Center for Export and Investment | CEI :.

International Trade

Incoterms

INCOTERMS

“INCOTERMS" is an abbreviation of International Commercial Terms, which were first published in 1936 by the International Chamber of Commerce (ICC). The goal of the Incoterms is to alleviate or reduce confusion over interpretations of shipping terms, by outlining exactly who is obligated to take control of and/or insure goods at a particular point in the shipping process.



  • CIP - CARRIAGE AND INSURANCE PAID TO (Named Place of Destination):
  • DAF - DELIVER AT FRONTIER (Named Place)):
  • DES - DELIVERED EX SHIP (Named Port):
  • FOB - FREE ON BOARD (Named Loading Port):
  • EXW - EX WORKS (Named Place):
  • DEQ - DELIVERED EX QUAY (Named Port):
  • CFR - COST AND FREIGHT (Named Destination Port):
  • DDP - DELIVERED DUTY PAID (Named Destination Place):
  • FAS - FREE ALONGSIDE SHIP (Named Loading Port):
  • CIF - COST, INSURANCE, AND FREIGHT (Named Destination Port):
  • CPT - CARRIAGE PAID TO (Named Place of Destination):
  • DDU - DELIVERED DUTY UNPAID (Named Destination Place):
  • FCA - FREE CARRIER (Named Place):
DEQ - DELIVERED EX QUAY (Named Port):

This is similar to DES, but the passing of risk does not occur until the goods have been unloaded at the port of destination.



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