Incoterms 2020, term by term
Incoterms are the standard three-letter trade terms that decide who pays for transport, where the risk of loss passes from seller to buyer, and who clears export and import. Pick a term below for a full breakdown, or compare two terms head to head.
There are 11 Incoterms 2020 rules, published by the International Chamber of Commerce. Seven apply to any mode of transport, and four apply to sea and inland waterway only. Each rule sets a different split of cost, risk, and customs responsibility between seller and buyer.
All 11 Incoterms 2020 terms
EXW - Ex Works
The buyer pays the main carriage; any mode of transport.
Learn moreFCA - Free Carrier
The buyer pays the main carriage; any mode of transport.
Learn moreFAS - Free Alongside Ship
The buyer pays the main carriage; sea and inland waterway only.
Learn moreFOB - Free On Board
The buyer pays the main carriage; sea and inland waterway only.
Learn moreCFR - Cost and Freight
The seller pays the main carriage; sea and inland waterway only.
Learn moreCIF - Cost, Insurance and Freight
The seller pays the main carriage; sea and inland waterway only.
Learn moreCPT - Carriage Paid To
The seller pays the main carriage; any mode of transport.
Learn moreCIP - Carriage and Insurance Paid To
The seller pays the main carriage; any mode of transport.
Learn moreDAP - Delivered At Place
The seller pays the main carriage; any mode of transport.
Learn moreDPU - Delivered at Place Unloaded
The seller pays the main carriage; any mode of transport.
Learn moreDDP - Delivered Duty Paid
The seller pays the main carriage; any mode of transport.
Learn moreCommon comparisons
FOB vs CIF
Compare Free On Board and Cost, Insurance and Freight side by side.
Learn moreFOB vs CFR
Compare Free On Board and Cost and Freight side by side.
Learn moreFOB vs EXW
Compare Free On Board and Ex Works side by side.
Learn moreFOB vs FCA
Compare Free On Board and Free Carrier side by side.
Learn moreFOB vs DDP
Compare Free On Board and Delivered Duty Paid side by side.
Learn moreCIF vs CFR
Compare Cost, Insurance and Freight and Cost and Freight side by side.
Learn moreCIF vs CIP
Compare Cost, Insurance and Freight and Carriage and Insurance Paid To side by side.
Learn moreCFR vs CPT
Compare Cost and Freight and Carriage Paid To side by side.
Learn moreEXW vs FCA
Compare Ex Works and Free Carrier side by side.
Learn moreEXW vs DDP
Compare Ex Works and Delivered Duty Paid side by side.
Learn moreDAP vs DDP
Compare Delivered At Place and Delivered Duty Paid side by side.
Learn moreDAP vs DPU
Compare Delivered At Place and Delivered at Place Unloaded side by side.
Learn moreCPT vs CIP
Compare Carriage Paid To and Carriage and Insurance Paid To side by side.
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