International Trade Rules
INCOTERMS
The International Chamber of Commerce (ICC) established the International Trade Practices (ITP) in 1936. Incoterms refer to various abbreviations used in international trade to clarify the division of responsibilities, costs, and risks between buyers and sellers regarding the transfer of goods, thus avoiding disputes arising from differing trade practices between countries. The latest version of the ICC's ITP was published on September 10, 2019, and came into effect on January 1, 2020. The latest version does not represent a significant update to the previous revision; the trade conditions applicable to "multiple modes of transport" and "sea freight" remain structurally unchanged. Only the names and definitions of some conditions have been revised to suit the actual usage of importers and exporters, and relevant application recommendations have been provided.
Ex Works (name place of delivery) Ex Works Delivery Terms
C&F (CFR) Cost And Freight (Cost and Freight Included) CC Freight Collect (Freight Collect) C/O Certificate of Origin CAF Current Adjustment Factor (Currency Surcharge) CBR Critical Bunder Recovery (Emergency Fuel Surcharge) CFS Container Freight Station (Loading) CIF Cost, Insurance & Freight CIP Carriage And Insurance Paid To (Carriage and Insurance Paid To) CLP Container Load Plan (Loading Details) CPT Carriage Paid To (Carriage Paid To) CUT OFF Closing Date/Cut Off Date (Closing Date) CY Container Yard (Full Container Load)
Carriage Paid to (name, place of destination) Payment Terms
Description title
Carriage and Insurance Paid to (name, place of destination) Terms and Conditions for Payment of Carriage and Insurance Premiums
Delivered at Place Unloaded (name place of unloaded)
Delivered at Place (name place of destination) Delivery Terms at Destination
Delivered Duty Paid (name, place of destination) Terms and Conditions
Free Alongside Ship (name port of shipment)
Free On Board (name, port of shipment)
Cost and Freight (name, port of destination) - Shipping costs included
Cost, Insurance and Freight (name, port of destination) (Including freight and insurance)
