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EXW – Ex Works (…named place) The seller delivers the goods at their premises. The buyer bears all costs and risks from that point onward.
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FCA – Free Carrier (…named place) The seller delivers the goods to the carrier at the agreed place. Risk transfers to the buyer once delivery is made.
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CPT – Carriage Paid To (…named place of destination) The seller pays the freight to the destination, but the risk transfers to the buyer once the goods are handed over to the carrier.
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CIP – Carriage and Insurance Paid To (…named place of destination) Same as CPT, but the seller also arranges insurance with higher coverage (as per Institute Cargo Clauses A).
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DAP – Delivered At Place (…named place of destination) The seller bears all costs and risks until the goods arrive at the destination, excluding unloading.
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DPU – Delivered at Place Unloaded (…named place of destination) The seller is responsible for delivering and unloading the goods at the destination.
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DDP – Delivered Duty Paid (…named place of destination) The seller bears all costs and risks including duties and taxes until the goods are delivered to the buyer.
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FAS – Free Alongside Ship (…named port of shipment) The seller delivers when the goods are placed alongside the vessel. The buyer assumes all risks and costs from that point.
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FOB – Free On Board (…named port of shipment) The seller delivers the goods when they are loaded on board the vessel. Risk transfers to the buyer at that moment.
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CFR – Cost and Freight (…named port of destination) The seller pays for freight to the destination port. Risk transfers to the buyer once goods are on board the vessel.
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CIF – Cost, Insurance and Freight (…named port of destination) Same as CFR, but the seller must also provide insurance (typically Institute Cargo Clauses C).
Download Incoterms Responsibility Chart (PDF)
