Regularly incorporated into sales contracts worldwide, ICC’s Incoterms® 2010 rules define the responsibilities of sellers and buyers for the delivery of goods. International trade is becoming more and more complex. Therefore, universally used rules are essential to avoid misunderstandings and costly disputes. Incoterms® 2010 continues a 70-year ICC tradition and reflects the latest developments in the trading environment.
RULES FOR ANY MODE OR MODES OF TRANSPORT
EXW Ex Works
FCA Free Carrier
CPT Carriage Paid To
CIP Carriage And Insurance Paid To
DAT Delivered At Terminal
DAP Delivered At Place
DDP Delivered Duty Paid
RULES FOR SEA AND INLAND WATERWAY TRANSPORT
FAS Free Alongside Ship
FOB Free On Board
CFR Cost and Freight
CIF Cost, Insurance and Freight
In addition to the 11 rules, Incoterms® 2010 includes:
• Extensive guidance notes and illustrative graphics to help users efficiently choose the right rule for each transaction;
• New classification to help choosing the most suitable rule in relation to the mode of transport;
• Advice for the use of electronic procedures;
• Information on security-related clearances for shipments;
• Advice for the use of Incoterms® 2010 in domestic trade.
The Incoterms® rules are available in more than 30 languages. Contact your National Committee to get the rules in your language.
The International Chamber of Commerce (ICC) has been helping to facilitate global trade for almost a century. Developed by experts and practitioners, ICC’s trade rules take into account latest developments in trade practice and supply a reliable basis for a better understanding between trading partners.
|Incoterms® 2010. Why are they so important for traders?
|ICC Incoterms® Rules explained