The INCOTERMS®, such as FOB, CIF and DDP, have become part of the international trade language and are used daily all over the world. INCOTERMS® ® are the work of the “Chamber of Commerce publication” and are fully available through the “ICC publication “INCOTERMS® 2010”.

We recommend using the interpretation below as a guide only.

EXW
Ex Works … named place
It contains the minimum obligation of the seller. He only has to make the goods available for collection at the named place. The seller therefore does not incur any transport costs. The goods do not have to be loaded or cleared for export, but only packed and labelled.

FCA
Free Carrier named place of delivery
The seller must bring the goods to the place of delivery specified by the buyer. The seller is responsible for packaging, goods inspection, and clearing the goods for export at their own expense. Depending on the selected place of delivery, the seller must also load the goods. The buyer is responsible for the main transport, transit and import.

FAS
Free Alongside Ship … named port of shipment
The seller must pack the goods at his own expense, transport them to the port of shipment named by the buyer and clear them for export. Delivery is completed when the goods are brought alongside the ship at the named port of shipment.

FOB
Free On Board … named port of shipment
Free on Board means that the seller fulfils his obligation to deliver when he delivers the goods on board the ship at the named port of shipment. The seller must pack the goods at his own expense and clear the goods for export.

CFR
Cost and Freight … named port of destination
The seller delivers when the goods are brought on board the ship. He also bears the costs and freight necessary to transport the goods to the named port of destination. The seller must also pack and clear the goods for export at his own expense.

CIF
Cost, Insurance and Freight… named port of destination
The seller delivers when the goods are placed on board the ship. The seller also bears the costs and freight required to transport the goods to the named port of destination. In addition, he must take out the transport insurance contract (with minimum cover only) at his own expense. The seller must also pack the goods at his own expense and clear them for export.

CPT
Carriage Paid To … named place of destination
The seller must deliver the goods to the carrier named by him. In addition, he must bear the freight costs required to transport the goods to the named place of destination. He must also pack the goods and clear them for export. The clause is applicable to all modes of transport.

CIP
Carriage, Insurance Paid To … named place of destination
The seller must deliver the goods to the carrier designated by them. In addition, he must bear the freight costs required to transport the goods to the named place of destination. Außerdem hat er den Transportversicherungsvertrag (wieder nur mit Mindestdeckung) auf seine Kosten abzuschließen. The CIP clause also obliges the seller to pack and clear the goods for export.

DAP
Delivered At Point … named place
The seller must make the goods available to the buyer on the arriving means of transport ready for unloading at the place of destination. He must clear the goods for export. However, the seller is not obliged to clear the goods for import.

DAT
Delivered At Terminal …named terminal at the port or place of destination.
Delivered At Terminal means that the seller fulfils his obligation as soon as the goods have been unloaded from the arriving means of transport and made available to the buyer at the named terminal at the port or place of destination. The seller must clear the goods for export. However, he is not obliged to clear the goods for import. The seller must bear all costs and risks of transporting the goods to the named terminal at the port or place of destination, including unloading costs.

DDP
Delivered Duty Paid … named place of destination
DDP contains the seller’s maximum obligation. The seller must clear the goods for export and also for import and deliver them unloaded to the named place of destination on the arriving means of transport. The seller bears all costs and also the risk until the goods arrive at the named place of destination.