Incoterms® 2020 – PDF Preview

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Incoterms® 2020

The latest, active rules are Incoterms® 2020, established by the International Chamber of Commerce (ICC). These 11 international commercial terms define seller and buyer responsibilities for delivery, risk, and costs in international trade.

They consist of seven rules applicable to all transport modes and four rules specifically for sea and inland waterway transport.

Rules for Any Mode of Transport

• EXW (Ex Works): Seller makes goods available at their premises; buyer handles all transport, risks, and costs.
• FCA (Free Carrier): Seller delivers goods to a carrier nominated by the buyer at a named place.
• CPT (Carriage Paid To): Seller pays for carriage to the named destination, but risk transfers once goods are handed to the first carrier.
• CIP (Carriage and Insurance Paid To): Seller pays for carriage and insurance with higher insurance coverage (Clause A).
• DAP (Delivered at Place): Seller delivers goods ready for unloading at the named destination.
• DPU (Delivered at Place Unloaded): Seller delivers and unloads goods at the destination; replaces the old DAT rule.

📌 Note: Incoterms® define responsibilities, costs, and risk transfer, but do not cover ownership transfer or payment terms.