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A practical overview of seller/buyer responsibilities for transport, insurance, delivery and customs under common Incoterms® 2020 rules.
Ex Works
Free Carrier
Carriage Paid To
Carriage and Insurance Paid To
Delivered at Place
Delivered at Place Unloaded
Delivered Duty Paid
Free Alongside Ship
Free on Board
Cost and Freight
Cost, Insurance and Freight
The chosen Incoterm and named place/port should be stated clearly in the commercial contract. Always use current ICC guidance for contractual decisions.
Because the rule defines where cost, transport responsibility and risk transfer between seller and buyer. That changes who books freight and who is responsible for parts of the movement.
Different Incoterms allocate import/export formalities differently. The commercial term should match what each party can actually perform in the relevant country.
FAQ
Incoterms focus on delivery responsibilities, costs and risk. They do not replace contract terms covering ownership or payment.
FOB and CIF are rules intended for sea and inland-waterway transport.
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