Incoterms 2020 (International Commercial terms).pdf

incoterms

1. INCOTERMS
2020
By : Abhishek Nema

2. CATEGORIZATIO
N-BASED ON
MODE OF
TRANSPORT

3. Multimodal Terms

4. EXW
(Ex Works
RISK IS TRANSFERRED AT THE SELLER’S DOCK

5. FCA
(FREE CARRIER) RISK IS TRANSFERRED UPON DELIVERY TO THE CARRIER
*SellerisresponsibleforloadingifthetermsareFCAatSeller’sfacility

6. CPT
(CARRIAGE PAID
TO) RISK IS TRANSFERRED UPON DELIVERY TO THE FIRST CARRIER

7. CIP
(CARRIAGE AND
INSURANCE PAID
TO) RISK IS TRANSFERRED UPON DELIVERY TO THE FIRST CARRIER
*Sellerneedstoprovidemaximuminsurancecover(InstituteCargoclauseA)

8. DAP
(DELIVERED AT
PLACE)
RISK IS TRANSFERRED UPON DELIVERY (NOT UNLOADED) AT
DESTINATION

9. DPU
(DELIVERED AT
PLACE
UNLOADED)
RISK IS TRANSFERRED UPON DELIVERY (UNLOADED) AT
DESTINATION
*ThisisonlyincotermwhereSellerisliabletounloadthegoodsatdestination.

10. DDP
(DELIVERED DUTY
PAID)
RISK IS TRANSFERRED UPON DELIVERY AT DESTINATION

11. OceanTerms

12. FAS
(FREE ALONGSIDE
SHIP) RISK IS TRANSFERRED UPON DELIVERY ALONGSIDE NAMED
VESSEL

13. FOB
(FREE ON BOARD)
RISK IS TRANSFERRED WHEN THE GOODS ARE BOARDED ON
BORAD THE VESSEL.

14. CFR
(COSTS &
FREIGHT) RISK IS TRANSFERRED WHEN THE GOODS ARE BOARDED ON
BORAD THE VESSEL.

15. CIF
(COST,
INSURANCE &
FREIGHT)
RISK IS TRANSFERRED WHEN THE GOODS ARE BOARDED ON
BORAD THE VESSEL
*Sellerneedstoprovideminimuminsurancecover(InstituteCargoclauseC)