INCOTERMS

EXW (Ex Works): The buyer is responsible for all transportation and risks after the seller makes the products available on their premises.

FCA (Free Carrier): The seller delivers the goods to a carrier or a nominated party specified by the buyer at a named place. The buyer assumes responsibility after the goods are delivered to the carrier, or the nominated party

CPT (Carriage Paid To): At a designated location, the seller delivers the items to the carrier or a nominated party established by the seller. The seller is responsible for the costs of transportation to the named destination, while risk has been transferred at origin port- to the buyer!

CIP (Carriage and Insurance Paid To): Similar to CPT, but the seller is also responsible for insuring the goods during transportation.

DAP (Delivered at Place): The seller delivers the goods to a named place, ready for unloading by the buyer. The seller is responsible for the risk until the products are prepared to be unloaded, while the buyer is resposnible for customs clearance. 

DPU (Delivered at Place Unloaded):  It’s the same as DAP, but includes unloading at buyer’s destination, on sellers’s costs and risk.

DDP (Delivered Duty Paid): The products are cleared for import and delivered by the vendor to the customer, ready for unloading. 

FAS (Free Alongside Ship): The seller unloads the items alongside the vessel at the designated location at origin port. The buyer assumes responsibility once the goods are placed at the designated location. .

FOB (Free on Board): The seller delivers the goods on board the vessel at the named port of shipment. The buyer assumes responsibility once the goods are on the ship.

CFR (Cost and Freight): It’s the same as CPT, only for Ocean Freight, as the responsibility to the buyer is transferred onboard of the vessel.

CIF (Cost, Insurance, and Freight): Similar to CFR, the seller is also responsible for insuring the goods during transportation.