INCOTERMS

ICC OFFICIAL RULES FOR THE INTERPRETATION OF TRADE TERMS

Incoterms 2020

  • EXW — Ex Works
  • FCA — Free Carrier
  • FAS — Free Alongside Ship
  • FOB — Free on Board
  • CFR — Cost and Freight
  • CIF — Cost, Insurance and Freight
  • CIP — Carriage and Insurance Paid Тo
  • CPT — Carriage Paid To
  • DAP — Delivered at Place
  • DPU — Delivered Named Place Unloaded
  • DDP — Delivered Duty Paid

EXPECTED CHANGES

  • CNI — Cost and Insurance
  • DTP — Delivered at Terminal Paid
  • DPP — Delivered at Place Paid

Incoterms 2010

  • DAT — Delivered at Terminal

Incoterms 2000

  • DDU — Delivered Duty Unpaid
  • DES — Delivered Ex Ship
  • DEQ — Delivered Ex Quay
  • DAF — Delivered at Frontier
incoterms_statistics

CIP - Carriage and Insurance Paid Тo (named place of destination)

The meaning of it is that the delivery is completed for the supplier when customs procedures for export were completed, paid insurance policy and the goods were transferred to the forwarder for transportation to a specific destination provided for in the agreement. Sum insured must be 110% of the value of the agreement and in the currency of the international agreement. All risks associated with the transportation of goods pass from supplier to recipient after delivery of the goods to the forwarder. CIP is concluded on the basis of an international contract of sale, which indicates all the responsibilities and what expenses each party bears. As a rule, the supplier bears all responsibilities with the delivery, insurance policy and clearance of goods to a specific destination.

Who covers the logistics charges?

Distribution of costs according to the Incoterm negotiated in the contract. Classification according to the increased level of obligations for the seller

Incoterm/Cost
Packaging
Loading from warehouse
Export customs clearance
Pre-carriage
Origin port fees
Handling at departure (OTHC)
Main transportation
Transportation insurance
Handling arrival (DTHC)
Destination port fees
Post carriage
Import customs clearance
Unloading into warehouse
EXW
S
S
B
B
B
B
B
B
B
B
B
B
B
FCA
S
S
S
B
B
B
B
B
B
B
B
B
B
CPT
S
S
S
S
B
B
B
B
B
B
B
B
B
CIP
S
S
S
S
B
B
B
S
B
B
B
B
B
FAS
S
S
S
S
S
B
B
B
B
B
B
B
B
FOB
S
S
S
S
S
S
B
B
B
B
B
B
B
CFR
S
S
S
S
S
S
S
B
B
B
B
B
B
CIF
S
S
S
S
S
S
S
S
B
B
B
B
B
DPU
S
S
S
S
S
S
S
B
S
B
B
B
B
DAP
S
S
S
S
S
S
S
B
S
S
S
B
B
DDP
S
S
S
S
S
S
S
B
S
S
S
S
B