Incoterms

How it is used

Written in quotations, contracts and invoices as rule + named place + edition, for example 'FCA Gebze Incoterms 2020'. The 2020 edition has 11 rules. Incoterms do not decide the price, the payment method or when ownership passes.

Example sentences

1. Which Incoterms rule are you quoting, FOB or CIF?

2. The contract refers to DAP Munich, Incoterms 2020.

Common collocations

• Incoterms rule
• Incoterms 2020
• agree on Incoterms
• under Incoterms

Related terms

• EXWEx Works: an Incoterms rule in which the seller only makes the goods available at its own premises; the buyer handles loading, transport, and export and import formalities.
• FOBFree On Board: an Incoterms rule in which the seller clears the goods for export and delivers them on board the ship at the named port of shipment, where the risk passes to the buyer.
• CIFCost, Insurance and Freight: an Incoterms rule in which the seller pays sea freight and minimum insurance to the destination port, but the risk passes to the buyer once the goods are on board at the port of loading.
• DAPDelivered at Place: an Incoterms rule in which the seller delivers the goods to the named destination, ready for unloading, and bears the risk until then; the buyer handles import clearance and duties.
• DDPDelivered Duty Paid: an Incoterms rule in which the seller delivers the goods to the named place in the buyer's country, cleared for import and with all duties and taxes paid.

This word in other fields

The same English word can have a different meaning in another field:

• Incoterms · Logistics & Supply Chain

More terms: Incoterms

• FCA
• CFR
• CPT
• CIP
• DPU