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Incoterms®

The International Chamber of Commerce (ICC) promotes international trade and investment. It developed the Incoterms rules in 1936 to clarify terms used in international contracts for the sale of goods. The latest 2020 version of Incoterms clarifies when ownership and risk transfer between buyers and sellers under various trade terms like EXW, FCA, CPT, CIP, DAP, DPU, and DDP. Key issues addressed are responsibility for transportation and insurance, and who pays related costs. The official English version of Incoterms 2020 came into effect on January 1, 2020.

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Святослав Колыхаев
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83 views19 pages

Incoterms®

The International Chamber of Commerce (ICC) promotes international trade and investment. It developed the Incoterms rules in 1936 to clarify terms used in international contracts for the sale of goods. The latest 2020 version of Incoterms clarifies when ownership and risk transfer between buyers and sellers under various trade terms like EXW, FCA, CPT, CIP, DAP, DPU, and DDP. Key issues addressed are responsibility for transportation and insurance, and who pays related costs. The official English version of Incoterms 2020 came into effect on January 1, 2020.

Uploaded by

Святослав Колыхаев
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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ICC Publication 723EF

(in 29 languages)
ICC Knowledge 2 Go:
2go.iccwbo.org
(04.12.2021)
• The International Chamber of Commerce (ICC) is a
private world organization whose mission is to promote
international trade and investment as vehicles for
inclusive growth.

• The ICC seeks to promote international trade,


responsible business conduct and a global approach to
regulation prosperity.

• The ICC was founded in 1919 in the aftermath of World


War I. Its headquarters are in Paris, near the
Trocadero.
The Incoterms® 2020 are rules developed by the ICC
for the terms of trade used in national and international
contracts for the sale of goods.
 
The Incoterms rules were first created by the ICC in
1936, and they have become internationally recognized.
They have been revised and updated over the years.
The newest set of rules - Incoterms® 2020 – came into
force on 1 January 2020.

The English language version is the official text of the


rules, but they are available in 29 languages.
“Incoterms” is a registered trademark of the ICC. The
rules (in English and French) are set forth in detail in
ICC Publication No.723EF, which is available through
the ICC Bookstore – iccbooks.com.
3
Table of Incoterms®
E F C D
EXW FCA CPT DAP
Ex-Works Free Carrier Carriage Paid To Delivered At Place
CIP DPU
    Carriage and Delivered at Place
Insurance Paid To Unloaded
DDP
      Delivered Duty
Paid
FAS
CFR
  Free Alongside  
Cost and Freight
Ship
CIF
FOB
  Cost Insurance  
Free On Board
and Freight
• EXW Ex-Works
 Title, ownership and risk pass to buyer at
seller’s premises
 Seller does not load the goods onto the
carrier’s vehicle

• FCA Free Carrier


 Delivery when goods are loaded onto the
carrier’s vehicle or they are delivered by seller
at the carrier’s facility (on a truck, at a seaport
terminal, at a airport terminal) in seller’s
country
• CPT Carriage Paid To
 Seller delivers goods to a carrier.
 Seller must contract and pay for transportation of goods first to the
carrier at the agreed place of delivery and then from the place of
delivery to a named destination in the buyer’s country of
importation. (Those costs included in the invoice price)
 Buyer takes over the risk of loss when the goods are delivered to the
carrier at seller’s point of export in seller’s country of exportation

• CIP Carriage and Insurance Paid to


 Seller delivers goods to a carrier.
 Seller must contract and pay for transportation of goods and
insurance first to the carrier at the agreed place of delivery and then
from the point of delivery to a named destination in buyer’s country
of importation. (Those costs included in the invoice price)
 Buyer takes over the risk of loss when the goods are delivered to the
carrier at seller’s point of export in seller’s country of exportation
• DAP Delivered At Place
– Seller pays for transportation and insurance to a
specified place in buyer’s country of importation. (Those
costs included in the invoice price)
– Goods have not been cleared for import.
– Goods delivered and placed at buyer’s disposal, ready
for unloading, at a specified place in buyer’s country of
importation.

• DPU Delivered at Place Unloaded


– Seller pays for transportation and insurance to at a
specified place in buyer’s country of importation. (Those
costs included in the invoice price)
– Goods have not been cleared for import.
– Goods placed at buyer’s disposal, once unloaded at
specified place in buyer’s country of importation.
• DDP Delivered Duty Paid
– Seller pays for transportation and insurance to at
a specified place in buyer’s country of importation.
– Seller pays import customs duties and arranges
for the goods to be cleared for import in buyer’s
country of importation. (Those costs included in
the invoice price)
– Goods are placed at buyer’s disposal, cleared for
import, ready for unloading at a specified place in
buyer’s country of importation.
Key Issues with the Incoterms :
 When does the title and ownership to the goods, and
therefore the risk of loss, pass from the seller to the
buyer?
 Who is responsible for arranging things – transport and
insurance?
 Who pays for what?
 In the E, F and D groups, the seller pays for everything
up to the transfer of title to the buyer.
 In the C group, the title, ownership and risk of loss
transfer to the buyer at the port of exportation, but the
seller continues to pay for freight and insurance to the
buyer’s import port.
Frederick H. Dulles
M.B.A. – J.D.

International lawyer, arbitrator, mediator


External lecturer at French Business Schools

Dulles de Leu International sas


Mobile Tel.: +33 – (0)6 31 25 83 53
Email: FHD@dullesdeleu.com

Licensed as a lawyer in the United States


in New York, South Carolina and the District of Columbia
© Dulles de Leu International sas 2021

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