This is our most updated Incoterms chart in 2020.

From which, you can easily understand the tasks, costs and risks associated with the transportation on various stages.

In fact, we have a detail explained guide to shipping terms,

But I realize this guide is a very in-depth long content article and you may don’t have time to read,

So I decide to make it as simple as I can. Enjoy!

Incoterms 2020

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Incoterms description

EXW

exw shipping

EXWEX-WORKSeller is only responsible for having the goods packed made available at the seller’s premises.

The buyer bears the full risk and cost from there to destination, including the loading of the cargo.

FCA

FCAFree CarrierSeller is responsible for delivery to the named place and loading.

Risk and cost are transfered to the buyer as soon as delivered at the named place. Unloading is the buyer’s responsibility

FAS

FASFree Alongside ShipSeller is responsible for delivery of the goods to at the port alongside the vessel.

From this point onward, risk and cost transfer to buyer.

FOB

fob incoterms

FOBFree On BoardSeller is responsible for delivery of the goods loaded on board the vessel.

Risk and cost are transferred as soon as the goods have been loaded onboard the vessel.

CFR Terms

CFRCost and FreightSeller covers cost of freight to the named port of destination or place .

Risk is transferred as soon as the goods have been loaded onboard the vessel.

CIF

CIFCost, Insurance and FreightSeller covers cost of insurance and freight to the named port of destination or place.

Risk is transfered as soon as the goods have been loaded onboard the vessel.

CPT shipping terms

CPTCarriage Paid ToSeller arranges the transportation and costs to the named place at destination.

Risk is transferred to the buyer once delivered at first carrier.

CIP shipping

CIPCarriage and Insurance Paid toSeller arranges the transportation, cost and insurance on behalf of the buyer to the named place at destination.

Risk is transferred to the buyer once delivered at first carrier.

DAP

DAPDelivered At PlaceSeller delivers the goods to the agreed place at destination.

Seller assumes all cost and risk until the goods are ready for unloading at named place at destination.

DPU

DPUDelivered at Place UnloadedSeller assumes all costs and risks until the goods are unloaded at the agreed named place at destination.

Buyer is responsible for import Customs formalities.

DDP terms

DDPDelivered Duty PaidSeller delivers the goods to the agreed place at destination.

Sell assumes all costs, including import formalities, and risk until the goods are ready unloading at named place at destination.