Incoterms, or International Commercial Terms, are standardized trade terms established by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers in international transactions. They clarify who is responsible for shipping, insurance, duties, and risk transfer, ensuring smoother and more transparent trade agreements.
Use the below guide to help give you a heads start when clarifying the responsibilities of trade when you ship with ETA!
FAS – Free Alongside Ship
The seller has fulfilled his obligation when goods have been placed alongside the vessel at…
FOB – Free On Board
Once the goods have passed over the ship’s rail at the port of export the…
CIF – Cost, insurance and Freight
The seller has the same obligations as under CFR however he is also required to…
EXW – Ex Work
The buyer bears all costs and risks involved in taking the goods from the seller’s…
FCA – Free Carrier
The seller’s obligation is to hand over the goods, cleared for export, into the charge…
CPT – Carriage Paid To
The seller pays the freight for the carriage of goods to the named destination. The…
CIP Carriage and Insurance Paid To
The seller has the same obligations as under CPT but has the responsibility of obtaining…
DAT – Delivered At Terminal
The seller is responsible for the costs and risks to bring the goods to the…
DAP – Delivered At Place
The seller bears the responsibility and risks to deliver the goods to a named place….