Transportation
Incoterms
International commercial terms defining responsibilities of buyers and sellers in global trade.
I
Updated 2025-10-01
Definition
Incoterms clarify obligations, costs, and risk transfer points between buyers and sellers during shipment of goods.
Overview
Overview
Published by the International Chamber of Commerce (ICC), Incoterms standardize trade practices and reduce disputes in international shipping.
Common Terms
- EXW (Ex Works)
- FOB (Free On Board)
- CIF (Cost, Insurance, and Freight)
- DDP (Delivered Duty Paid)
Example
Using FOB, the seller is responsible for goods until loaded on the ship; the buyer assumes risk during sea transport.
Tags
#Incoterms#International Trade#Shipping#Contracts#Logistics
Related Terms
EXW (Ex Works)
FOB (Free On Board)
CIF (Cost, Insurance, and Freight)
