Incoterms 2010
Incoterms 2010
(ICC rules for the use of domestic and international trade terms)
Entry into force: 1 January 2011
Reference to an Incoterms 2010 in a sale contract clearly defines the parties’ respective obligations and reduces the risk of legal complications.
The Incoterms rules explain a set of three-letter trade terms reflecting business-to-business practice in contracts for the sale of goods. The Incoterms rules describe mainly the tasks, costs and risks involved in the delivery of goods from sellers to buyers.
Main features of the Incoterms 2010 rules with comments:
• Two new Incoterms rules – DAT and DAP – have replaced the Incoterms 2000 rules DAF, DES, DEQ and DDU.
• The number of Incoterms rules has been reduced from 13 to 11. This has been achieved by substituting two new rules that may be used irrespective of the agreed mode of transport – DAT, Delivered at Terminal, and DAP, Delivered at Place – for the Incoterms 2000 rules DAF, DES, DEQ and DDU.
| EXW | / | FCA | / | FAS | / | FOB | / | CFR | / | CIF | / | CIP | / | CPT | / | DAT | / | DAP | / | DDP | ||
Group E – DepartureEXW Ex Works (named place)
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Group F – Main carriage unpaidFCA Free carrier (named place)
Free alongside ship (… named port of dispatch) Free on board (named port)
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Group C – Main carriage paid by the SellerCFR Cost and freight (… named port of destination)
cost, insurance and freight (…named port of destination)
CARRIAGE AND INSURANCE PAID TO (… named place of destination)
Carriage paid to (named place)
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