Incoterms

Incoterms are the world’s essential terms of trade for the sale of goods, they provide specific guidance to individuals participating in the import and export of global trade. “Incoterms” is an acronym standing for international commercial terms and feature  abbreviations such as FOB (“Free on Board”), DAP (“Delivered at Place”) EXW (“Ex Works”), CIP (“Carriage and Insurance Paid To”), these terms hold universal meaning for buyers and sellers around the world.

For more information on incoterms visit the International Chamber of Commerce site – https://iccwbo.org/

Download our Incoterms 2020 user guide for a description on Incoterms and the breakdown of Seller and Buyer Costs and Risk against each term.