Incoterms 2010
The rules became effective on January 1, 2011. Incoterms 2010 – are the international rules, terms, accepted by governments, legal authorities, and practitioners worldwide for the interpretation of most commonly used terms in international trade.
The scope of Incoterms 2010 applied to all rights and obligations of the parties according to the Sales and Purchase agreement in a part of delivering goods (terms of delivering goods).
Every term of Incoterms 2010 consists of three-letter abbreviation. There are comprehensive list of terms Incoterms 2010 and necessary explanation.
Category E |
EXW |
Any mode of transport |
EX Works ( ... named place) |
Category F |
FCA |
Sea and internal water carriage |
Free Carrier (...named place) |
FAS |
Sea and internal water carriage |
Free Alongside Ship (... named port of shipment) |
|
FOB |
Sea and internal water carriage |
Free On Board (... named port of shipment) |
|
Category F |
CFR |
Any mode of transport |
Cost and Freight (... named port of destination) |
CIF |
Any mode of transport |
Cost, Insurance and Freight (... named port of destination) |
|
CIP |
Any mode of transport |
Carriage and Insurance Paid Тo (... named place of destination) |
|
CPT |
Any mode of transport |
Carriage Paid To (... named place of destination) |
|
Category D |
DAT |
Any mode of transport |
new!!! |
DAP |
Any mode of transport |
new!!! |
|
DDP |
Any mode of transport |
Delivered Duty Paid (... named place of destination) |
|
|
Any mode of transport |
Eliminated from Incoterms 2010 |
|
|
Any mode of transport |
Eliminated from Incoterms 2010 |
|
|
Any mode of transport |
Eliminated from Incoterms 2010 Delivered Ex Ship (... named port of destination) |