Also called: International Commercial Terms · Delivery terms
Incoterms® rules, published by the International Chamber of Commerce (current edition Incoterms® 2020), are three-letter terms written into quotations and contracts — for example EXW, FCA, CPT, CIP, DAP, DPU, DDP for any transport mode, and FAS, FOB, CFR, CIF for sea transport. Each rule defines where delivery happens, where the risk passes to the buyer, and which party pays for carriage, insurance and export or import clearance.
Always name the rule together with a precise place, such as "FCA Istanbul Airport" or "DAP Hamburg warehouse", and the edition year. Two quotations with different Incoterms are not comparable on price until transport, insurance and duties are added to the same point.
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