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
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