The Incoterms 2010 may be used to define the responsibilities of buyer and seller in contracts effective from 1 January 2011. We recommend that you officially lay down your rights and obligations in your commercial documents, before you purchase or sell any goods.
When referring for example to terms such as 'FOB', it is advisable to clearly indicate that you mean the FOB terms, described by the INCOTERMS 2010 which are published by the International Chamber of Commerce in Paris and serve to regulate the division of costs, risks and obligations between buyer and seller.
The Incoterms are divided by mode of transport:
Maritime and inland waterway transport only
FAS - Free Alongside Ship (...named port of shipment)
FOB - Free On Board (...named port of shipment)
CFR - Cost and Freight (...named port of destination)
CIF - Cost, Insurance and Freight (...named port of destination)
Any mode of transport
EXW - Ex Works (...named place)
FCA - Free Carrier (...named place)
CPT - Carriage Paid To (...named place of destination)
CIP - Carriage and Insurance Paid To (...named place of destination)
DAP - Delivered at place (...named place of destination)
DAT - Delivered at terminal (... named place of destination)
DDP - Delivered Duty Paid (...named place of destination)
The INCOTERMS and the UCP500 are published by the:
ICC Publishing S.A.
39, cours Albert 1er
ICC publications and translations thereof are also obtainable from your local ICC representative.