Incoterms 2020

Seller and buyer responsibilities for all 11 delivery terms.

Code Name Transport Mode Seller Responsibility Buyer Responsibility Description
EXW Ex Works All modes Minimum Maximum Seller makes goods available at their premises; all costs and risks pass to the buyer.
FCA Free Carrier All modes Low High Seller delivers goods to a named carrier at an agreed point.
FAS Free Alongside Ship Sea / Inland Medium Medium Seller delivers goods alongside the vessel at the named port.
FOB Free on Board Sea / Inland Medium Medium Risk and cost transfer to the buyer once goods are loaded on board.
CPT Carriage Paid To All modes High Low Seller pays freight to the named destination; risk transfers at carrier handover.
CIP Carriage & Insurance Paid All modes High Low Same as CPT, but seller must also procure minimum insurance for the buyer.
CFR Cost & Freight Sea / Inland High Low Seller pays freight; risk transfers to buyer once goods are on board.
CIF Cost, Insurance & Freight Sea / Inland High Low CFR plus seller takes out minimum insurance in favour of the buyer.
DAP Delivered at Place All modes Very High Minimum Seller delivers to the named place; buyer handles import customs.
DPU Delivered at Place Unloaded All modes Very High Minimum Seller delivers and unloads at destination; buyer handles import customs.
DDP Delivered Duty Paid All modes Maximum Minimum Most comprehensive term; seller bears all costs and risks including import duty.