What are the 11 terms of Incoterms 2020?

What are the 11 terms of Incoterms 2020?

Types of Incoterms

• CIF (Cost, Insurance and Freight) …
• CIP (Carriage and Insurance Paid to) …
• CFR (Cost and Freight) …
• CPT (Carriage paid to) …
• DAT (Delivered at Terminal) …
• DAP (Delivered at Place) …
• DDP (Delivery Duty Paid) …
• EXW (Ex Works)

What are the Incoterms of 2020?

The seven Incoterms® 2020 rules for any mode(s) of transport are:

• EXW – Ex Works (insert place of delivery)
• FCA – Free Carrier (Insert named place of delivery)
• CPT – Carriage Paid to (insert place of destination)
• CIP – Carriage and Insurance Paid To (insert place of destination)

What are 4 categories of Incoterms 2020?

FAS (Free Alongside Ship) CFR (Cost and Freight) FOB (Free On Board) CIF (Cost, Insurance, and Freight)

What is incoterm PPT?

The word INCOTERM is an abbreviation for International Commercial Terms which provide a common set of rules used for defining the responsibilities of sellers and buyers in the delivery of goods under sales contracts. They are widely used in international commercial transactions.

What are the 4 most used Incoterms?

Here Are The 5 Most Commonly Used Incoterms

• 5) FAS Free Alongside Ship (named port of shipment) …
• 4) FCA Free Carrier (named place of delivery) …
• 3) FOB Free On Board (named port of shipment) …
• 2) DDP Delivered Duty Paid (named place of destination) …
• 1) CIF Cost, Insurance & Freight (named port of shipment)

What is Incoterms and its types?

Incoterms is short for ‘International Commercial Terms’ and is a series of commercial terms set out by the International Chamber of Commerce (ICC) relating to international commercial laws.