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Incoterms 2020
Incoterms 2020
- ICC Incoterms 2020
On 10 September 2019, the ICC published the latest edition of the Incoterms® which will enter into force on 1 January 2020. The Incoterms® 2020 updates the Incoterms® 2010 and intends to clearly and accurately reflect present-day trade practices. However there are very few significant changes to the rules themselves.
11 International Trade Terms Explanations
- EXW
Ex Works (name place of delivery)
Factory Delivery Conditions
- FCA
Free Carrier (name place of delivery)
Cargo Delivery Conditions
- CPT
Carriage Paid to (name place of destination)
Freight Prepaid Conditions
- CIP
Carriage and Insurance Paid to (name place of destination)
Freight Payment Conditions
- DPU
Delivered at Place Unloaded (name place of unloaded)
Unloaded Place Delivery Conditions
- DAP
Delivered at Place (name place of destination)
Destination Delivery Conditions
- DDP
Delivered Duty Paid (name place of destination)
Taxes and Conditions of Delivery
- FAS
Free Alongside Ship (name port of shipment )
Ship Side Delivery Conditions
- FOB
Free On Board (name port of shipment )
On-board Delivery Conditions
- CFR
Cost and Freight (name port of destination)
Shipping Conditions Included
- CIF
Cost, Insurance and Freight (name port of destination)
Shipping Freight Conditions