What are the incoterms?

The international delivery conditions concerning the obligations of the buyer and seller in international trade.

EXW „Ex Works”

„Ex Works“/„Ab Werk“ means that the seller delivers when he provides the goods to the buyer at the seller or at another designated site (e.g. works, factory, warehouse). The seller does not have to load the goods on any collecting vehicle, nor must he free up for export, should this be necessary.

FCA: Free Carrier

„Free Carrier“/„Frei Frachtführer“ means that the seller delivers the goods to the carrier or another person nominated by the buyer at the seller or at another designated place. The parties are well advised to refer to the location within the designated place of delivery as accurately as possible, because the risk passes at this point to the buyer.

CPT: Carriage Paid To

„Carriage Paid To“/„Frachtfrei“ means that the seller delivers goods to the carrier or another person nominated by the seller, at an agreed location (if any such place is agreed between the parties), and that the seller has to conclude the contract of carriage and has to pay the freight charges incurred for the carriage of the goods to the named destination.

CIP: Carriage and Insurance Paid to

„Carriage and Insurance Paid to“/„Frachtfrei versichert“ means that the seller delivers the goods to the carrier or another person nominated by seller at an agreed place (if such place is agreed between the parties), and that the seller shall conclude the transport contract and to pay the freight charges incurred for carriage of the goods to the named destination. The seller also enters a contract of insurance against the buyer’s risk of loss or damage to the goods during transport.

DAT: Delivered At Terminal

„Delivered At Terminal“/„Geliefert Terminal“ means that the seller delivers the goods when the goods were unloaded from the arriving means of transport and the purchaser is provided at a named terminal at the named port or place. “Terminal” can be any place, regardless of whether or not covered, for instance a quay, a warehouse, a container depot or a road, rail or air cargo terminal. The seller bears all risks associated with the transportation of the goods to and unloading in the terminal at the named port or place.

DAP: Delivered At Place

„Delivered At Place“/„Geliefert benannter Ort“ means that the seller delivers when the goods will be provided at the buyer, on the arriving means of transport, ready for unloading at the designated destination. The seller bears all risks that are connected with the carriage at the named place.

DDP: Delivered Duty Paid

„Delivered Duty Paid“/„Geliefert verzollt“ means that the seller delivers when he provides the goods cleared for import, at the buyer, on the arriving means of transport, ready for unloading at the named place of destination. The seller bears all costs and risks that are associated with bringing the goods to the destination and has the obligation to clear the goods not only for export but also for import, to pay any charges both for export and for the import as well as all customs formalities.

CFR: Cost and Freight

„Cost and Freight“/„Kosten und Fracht“ means that the seller delivers the goods on board the ship or he has already procured the so delivered goods. The risk of loss or damage to the goods passes when the goods are on board of the ship. The seller has to conclude the contract of carriage and to pay the necessary freight costs and to transport the goods to the named port of destination.

CIF: Cost, Insurance and Freight

„Cost, Insurance and Freight“/“Kosten, Versicherung und Fracht“means that the seller delivers the goods on board the ship or he has already procured the so delivered goods. The risk of loss or damage to the goods passes when the goods are on board of the ship. The seller has to conclude the contract of carriage and to pay the necessary freight costs and to transport the goods to the named port of destination. In addition, the seller must contract at his own expense a marine insurance, corresponding to at least the minimum coverage according to clauses (C) of the Institute Cargo Clauses (LMA/IUA) or similar clauses.

FOB: Free On Board

„Free On Board“ / „Frei an Bord“ means that the seller delivers the goods on board the ship nominated by the buyer at the named port or he has already procured the so delivered goods. The risk of loss or damage to the goods passes when the goods are on board of the ship. The buyer bears all costs from that date on.

FAS: Free Alongside Ship

„Free Alongside Ship“ / „Frei Längsseite Schiff“ means that the seller delivers when the goods are placed alongside the vessel (at a quay or on a barge) at the named port. The risk of loss or damage to the goods passes when the goods are placed alongside the vessel. The buyer bears all costs from that date on.