Incoterms 2020
Quick way to grasp the worldwide Incoterms classes.
Incoterms were created to streamline global trade practices, whether with or without customs involvement. This year, updates have been made, with some terms being removed, and new ones introduced. Here, we present the current terms.
The Incoterms® 2010 multimodal rules
The Incoterms multimodal rules are apt for any trade operation involving road, rail, air or multimodal transport, including multimodal container transport with a maritime leg, or any combination of these modes (except maritime port-to-port). These rules are as follows: The Incoterms multimodal rules are apt for any trade operation involving road, rail, air or multimodal transport, including multimodal container transport with a maritime leg, or any combination of these modes (except maritime port-to-port). These rules are as follows:
- EXW (ex works)
- FCA (free carrier)
- CPT (carriage paid to)
- CIP (carriage and insurance paid to)
- DAT (delivered at terminal)
- DAP (delivered at place)
- DDP (delivered duty paid)
The Incoterms® 2010 rules for maritime transport
This set of Incoterms rules for maritime and inland waterway transport is suitable for trade operations involving general non-containerised, break-bulk, bulk, etc. cargo from port to port. It comprises four rules:
- FAS (free alongside ship)
- FOB (free on board)
- CFR (cost and freight)
- CIF (cost, insurance and freight)
