International Commercial Terms "Incoterms-2010"

Till recently the terms of 2000 edition were been used in an international trade. In 2010 the International Chamber of Commerce (ICC) issued the last version "Incoterms-2010" which became effective on January 1, 2011. In a new edition the grouping and the denomination of terms were not been changed. But the term CFR was been excluded and the terms DAF, DES, DDU were been changed by DAP, the term DEQ was been changed by DAT. As a result the total number of the terms has been reduced from 14 to 11.

Code Group Interpretation EXW E Shipment EX Works <point> FCA F Carriage unpaid Free CArrier <point> FAS Free Alongside Ship <port of shipment> FOB Free On Board <port of shipment> CIF C Carriage paid Cost, Insurance* and Freight <port of destination> CPT Carriage Paid To <place of destination> CIP Carriage and Insurance* Paid to <place of destination> DAP D Delivery Delivered At Point DAT Delivered At Terminal DDP Delivered Duty Paid <place of destination>

* Insurance – without assuming the risk of loss of or damage to the goods or additional costs due to events occurring after shipment and dispatch.