INCOTERMS 2020 | |||||||||||||||||
Allocations of costs and of risks to buyer/seller according to Incoterms 2020 | |||||||||||||||||
Mode of Transport |
Acronym | Incoterm | liability |
Packaging and Checking |
Loading at Seller’s Premises |
Carriage to Port / Named Place in Origin (Pre-Carriage) |
Export Customs Declaration |
Terminal Charges Origin |
Loading on Vessel / Airplane Origin |
Transport (Sea/Air) to Port/Airport of Import |
Insurance |
Unloading / Terminal Charges Destination |
Import Customs Clearance |
Import duties and taxes |
Loading on truck in port of import |
Carriage to Final Delivery Site(On-Carriage) |
Unloading at Buyer’s Premises |
EXW |
Ex Works (named place of delivery) |
costs | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |
risks | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
FCA |
Free Carrier (named place of delivery) |
costs | Seller | Seller | Seller/Buyer | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |
risks | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
CPT |
Carriage Paid To (named place of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Seller/Buyer | Buyer | Buyer | Seller/Buyer | Seller | Buyer | |
risks | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
CIP |
Carriage Insurance and Paid To (named place of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller/Buyer | Buyer | Buyer | Seller/Buyer | Seller | Buyer | |
risks | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
DAP |
Delivered at Place (named place of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Seller | Seller | Buyer | |
risks | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Seller | Seller | Buyer | |||
DPU |
Delivered at Place Unloaded (named place of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Seller | Seller | Seller | |
risks | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Seller | Seller | Buyer | |||
DDP |
Delivered Duty Paid (named place of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | |
risks | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | |||
FAS |
Free Alongside Ship (named port of shipment) |
costs | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |
risks | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
FOB |
Free On Board (named port of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |
risks | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
CFR |
Cost and Freight (named port of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |
risks | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |||
CIF |
Cost, Insurance and Freight (named port of destination) |
costs | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | |
risks | Seller | Seller | Seller | Seller | Seller | Seller | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer |
Remark: With all Incoterms beginning with D there is no obligation to provide insurance, however the insurable risk is for the seller’s account.