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Most Common Trade Terms (INCO TERMS)

EX WORKS

Exworks (...named place) Seller make the goods available at his premises (i.e. works, factory, warehouse, etc.) to the buyer.

FCA

Free Carrier (...named place) Seller hands over the goods, cleared for export, into the charge of the carrier named by the buyer at the named place or point.

FAS

Free Alongside Ship (...named port of shipment) Seller delivers the goods alongside the vessel on the quay or in lighters at the named port of shipment.

FOB

Free On Board (...port of shipment) Seller delivers the goods on board the vessel or at the airport at the named port/airport of shipment.

CFR

Cost and Freight (...named port of destination) Seller pays costs and freight and to deliver the goods to the named port of destination. This term can be only used for sea and inland waterway transport.

CIF

Cost, Insurance and Freight (...named port of destination) Seller pays costs, insurance for carriage of the goods to the named destination

CPT

Carriage and Insurance Paid to (...named place of destination) Seller pays freight and insurance for carriage of the goods to the named destination.

CIP

Carriage and Insurance Paid to (...named place of destination) Seller pays freight and insurance for carriage of the goods to the named destination.

DAF

Delivered at Frontier (...named place) Seller delivers the goods at the named point and place at the frontier.

DES

Delivered Ex Ship (...named port of destination) Seller makes the goods available to the buyer on board the ship uncleared for import at the named port of destination.

DEQ

Delivered Ex Quay - Duty Paid (...named port of destination) Seller makes the goods available to the buyer on the quay (wharf) at the named port of destination.

DDU

Delivered Duty Unpaid (...named place of destination) Seller makes the goods available to the buyer at the named place in the country of importation.

DDP

Delivered Duty Paid (...named place of destination) Seller makes the goods available to the buyer at the named place in the country of importation. The seller bears the risks and costs, including duties, taxes and other charges of delivering the goods.

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