Académique Documents
Professionnel Documents
Culture Documents
Introduction
• Universally recognised set of definitions of
international trade terms
• Recognised by courts and other authorities
• Define the trade contract responsibilities and
liabilities between buyer and seller
• Updated regularly to keep pace with
changes and developments in international
trade
Introduction
E: Departure
EXW- Ex Works
F: Main carriage unpaid
• Devised an published by FCA- Free Carrier
the ICC FAS- Free Alongside Ship
FOB- Free On Board
• WBO ICC introduced C: Main carriage paid
Incoterms in 1936 CFR- Cost and Freight
• Incoterms 2012 CIF- Cost, Insurance and Freight
CPT- Carriage Paid To
• 4 groups E, F, C and D CIP- Carriage and Insurance Paid To
and in all 13 main terms D: Arrival
DAF- Delivered At Frontier
DES- Delivered Ex Ship
DEQ- Delivered Ex Quay
DDU- Delivered Duty Unpaid
DDP- Delivered Duty Paid
Introduction
Purpose of Incoterms
• Group E Departure
EXW Ex Works (.....…........named place)
• Group D Arrival
• DAF Delivered at Frontier (.....………………….....named place)
• DES Delivered Ex Ship (...........named port of destination)
• DEQ Delivered Ex Quay (....…....named port of destination)
• DDU Delivered Duty Unpaid (…...named place of destination)
• DDP Delivered Duty Paid (.........named place of destination)
Introduction
The Terms