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.
| EXW | FCA | FAS | FOB | CFR | CIF | DAT | CPT | DAP | CIP | DDP | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loading on truck (carrier) | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
| Export Customs declaration | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
| Carriage to porr of export | Buyer | Buyer | Seller | 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 |
| Loading charges in port of export | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
| Carriage to port of import | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller | Seller | Seller |
| Unloading charges in port of import | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller | Seller |
| Loading on truck in port of import | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller |
| Carriage to place of destination | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller | Seller |
| Insurance | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller | Seller | Seller |
| Import Customs Clearance | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller |
| Import Taxes | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Buyer | Seller |
Any mode of transport
Definitions
EXW (Ex Works)
Seller makes goods available at their premises; buyer takes all responsibility from there.
FCA (Free Carrier)
Seller delivers goods to a carrier nominated by buyer at seller’s premises or another named place.
CPT (Carriage Paid To)
Seller pays for carriage to named destination, but risk transfers when goods are handed to first carrier.
CIP (Carriage and Insurance Paid To)
Same as CPT but seller also procures insurance coverage.
DAP (Delivered at Place)
Seller delivers when goods are made available to buyer at named destination, ready for unloading.
DPU (Delivered at Place Unloaded)
Seller delivers and unloads goods at named destination (replaced DAT in 2020).
DDP (Delivered Duty Paid)
Seller takes maximum responsibility, delivering goods cleared for import at buyer’s location.
Sea and Inland Waterway Transport Only
More Definitions
FAS (Free Alongside Ship)
Seller delivers when goods are placed alongside vessel at named port.
FOB (Free on Board)
Seller delivers when goods pass ship’s rail at named port of shipment.
CFR (Cost and Freight)
Seller pays costs and freight to destination port, but risk transfers at ship’s rail.
CIF (Cost, Insurance and Freight)
Same as CFR but seller also procures marine insurance.