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Do You Know Your 2020 Incoterms?
Incoterms, a widely-used terms of sale, are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specifies who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities.
The seven Incoterms® 2020 rules for any mode(s) of transport are:
EXW - Ex Works
FCA - Free Carrier
CPT - Carriage Paid to
CIP - Carriage and Insurance Paid To
DAP - Delivered at Place
DPU - Delivered at Place Unloaded
DDP - Delivered Duty Paid
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