(pdf)                      INCOTERMS 2000

The purpose of Incoterms 2000 is to provide a set of international rules for the interpretation of the most commonlyused trade terms in foreign trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree. The scope of Incoterms 2000 is limited to matters relating to the rights and obligations of the parties to the contract of sale with respect to the delivery of goods sold. Incoterms 2000 do NOT apply to the contract of carriage.A brief description of each Incoterm is outlined below:

 

EX WORKS (EXW) The seller delivers when he places the goods at the disposal of the buyer at the seller's premises or another named place (i.e. works, factory, warehouse, etc.) ....more

FREE CARRIER (FCA) The seller delivers the goods, cleared for export, to the carrier nominated by the buyer at the named place. It should be noted that the chosen place of ....more

FREE ALONGSIDE SHIP (FAS) The seller delivers when the goods are placed alongside the vessel at the named port of shipment. This means that the buyer has to bear all costs ....more

FREE ON BOARD (FOB) The seller delivers when the goods pass the ship's rail at the at the named port of shipment. This means that the buyer has to bear all costs and risks of ....more

COST & FREIGHT (CFR) The seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and freight necessary to bring the goods to ....more

COST, INSURANCE & FREIGHT (CIF) The seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and freight necessary to bring ....more

CARRIAGE PAID TO (CPT) The seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring the goods ....more

CARRIAGE & INSURANCE PAID TO (CIP) The seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring ....more

DELIVERED AT FRONTIER (DAF) The seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport not unloaded, cleared for export ....more

DELIVERED EX SHIP (DES) The seller delivers when the goods are placed at the disposal of the buyer on board the ship not cleared for import at the named port of destination  ....more

DELIVERED EX QUAY (DEQ) The seller delivers when the goods are placed at the disposal of the buyer not cleared for import on the quay (wharf) at the named port of destination  ....more

DELIVERED DUTY UNPAID (DDU) The seller delivers the goods to the buyer, not cleared for import, and not unloaded from any arriving means of transport at the named place of ....more

DELIVERED DUTY PAID (DDP) The seller delivers the goods to the buyer, cleared for import, and not unloaded from any arriving means of transport at the named place of ....more