Incoterms 2020
Incoterms
A set of standardized international trade terms defining who is responsible for costs and risk at each stage of a shipment.Published by the International Chamber of Commerce and updated in the Incoterms 2020 edition, the eleven Incoterms rules (EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DAP, DPU, DDP) specify the point at which cost and risk pass from seller to buyer. They do not cover payment, title transfer or breach of contract.
Frequently asked questions
- How many Incoterms are there?
- The Incoterms 2020 edition defines eleven rules, seven for any mode of transport and four for sea and inland waterway.
- What do Incoterms not cover?
- They do not cover the price, payment method, transfer of ownership, or remedies for breach of contract — only delivery, cost and risk.