Your Quick Reference Guide to INCO Terms
INCO Terms
Below are the standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities, costs, and risks associated with the transportation and delivery of goods in international and domestic trade contracts.
Title | EXW | FCA | FAS | FOB | CFR | CIF | DAT | CPT | DAP | CIP | DDP |
|---|---|---|---|---|---|---|---|---|---|---|---|
IMPORT TAXES | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller |
IMPORT CUSTOMS CLEARANCE | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller |
INSURANCE | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller |
CARRIAGE TO PLACE OF DESTINATION | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller |
LOADING ON TRUCK IN PORT OF IMPORT | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller |
UNLOADING CHARGES IN PORT OF IMPORT | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller |
CARRIAGE TO PORT OF IMPORT | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
LOADING CHARGES IN PORT OF EXPORT | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
UNLOADING OF TRUCK IN PORT OF EXPORT | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
CARRIAGE TO PORT OF EXPORT | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
EXPORT CUSTOMS DECLARATION | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
LOADING ON TRUCK (CARRIER) | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
Any mode of transport
Definitions
EXW (Ex Works)
Seller makes goods available at their premises; buyer takes all responsibility from there.
CPT (Carriage Paid To)
Seller pays for carriage to named destination, but risk transfers when goods are handed to first carrier.
DAP (Delivered at Place)
Seller delivers when goods are made available to buyer at named destination, ready for unloading.
DDP (Delivered Duty Paid)
Seller takes maximum responsibility, delivering goods cleared for import at buyer’s location.
FCA (Free Carrier)
Seller delivers goods to a carrier nominated by buyer at seller’s premises or another named place.
CIP (Carriage and Insurance Paid To)
Same as CPT but seller also procures insurance coverage.
DPU (Delivered at Place Unloaded)
Seller delivers and unloads goods at named destination (replaced DAT in 2020).
Sea and Inland Waterway Transport Only
More Definitions
FAS (Free Alongside Ship)
Seller delivers when goods are placed alongside vessel at named port.
CFR (Cost and Freight)
Seller pays costs and freight to destination port, but risk transfers at ship’s rail.
FOB (Free on Board)
Seller delivers when goods pass ship’s rail at named port of shipment.
CIF (Cost, Insurance and Freight)
Same as CFR but seller also procures marine insurance.