Miscellaneous Questions

What are the INCOTERMS?

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...named place of destination)

More FAQs...