09/11/2024
Key Incoterms used in Logistics
1.EXW (Ex Works)
Seller: Provides goods at their location.
Buyer: Handles all transport, duties, and risks from the seller's premises.
2.FCA (Free Carrier)
Seller: Delivers goods to a carrier chosen by the buyer.
Buyer: Takes responsibility after the goods are handed to the carrier.
3.FAS (Free Alongside Ship)
Seller: Gets the goods to the dock, next to the ship.
Buyer: Takes care of everything from loading onto the ship to final delivery.
4.FOB (Free on Board)
Seller: Responsible until goods are loaded onto the ship.
Buyer: Takes over once the goods are on board, covering risks and costs.
5.CFR (Cost and Freight)
Seller: Pays freight to the destination port but not insurance.
Buyer: Takes responsibility once goods are on the ship.
6.CIF (Cost, Insurance, and Freight)
Seller: Pays for goods, freight, and insurance to the destination port.
Buyer: Handles duties and transport after the goods arrive.
7.CPT (Carriage Paid To)
Seller: Covers transportation to a specified location.
Buyer: Takes responsibility after goods are handed to the carrier.
8.CIP (Carriage and Insurance Paid To)
Seller: Pays for transport and insurance.
Buyer: Responsible once the goods are with the carrier, handling further duties and costs.
9.DPU (Delivered at Place Unloaded)
Seller: Delivers and unloads the goods at the agreed location.
Buyer: Takes over after the goods are unloaded and handles any customs and local transport.
10.DAP (Delivered at Place)
Seller: Delivers goods to the buyer’s location, excluding unloading.
Buyer: Takes care of import duties and taxes
11.DDP (Delivered Duty Paid)
Seller: Responsible for everything, including import duties, until goods reach the buyer.
Buyer: Just receives the goods.