List of Incoterms (international commercial terms)
- CFR – Cost and Freight - the exporter must deliver the goods at the port of destination selected by the importer. Transport expenses are thus the responsibility of the exporter. The importer bears the expenses of insurance and unloading of the goods. Utilization of this term obliges the exporter to offload the goods for export, and to use only sea and inland waterway transportation. - CIF – Cost, Insurance and Freight – modality equivalent to CFR, except that the insurance costs are born by the exporter. The exporter must deliver the goods aboard ship, at the port of embarkation, with freight and insurance paid. The responsibility of the exporter ceases when the product is offloaded from the ship at the port of destination. This modality may only be used for sea and inland waterway transportation. - CIP – Carriage and Insurance Paid to... – adopts a principle similar to CPT. The exporter, aside from bearing expenses for shipment of the goods and freight to the destination, must also bear expenses of insurance for transport of the goods to the destination indicated. CIP may be used for any mode of transportation, including multimodal. - CPT – Carriage Paid to... – similarly to CFR, this condition stipulates that the exporter must pay expenses relating to the shipment of the goods and international freight to the designated destination. Thus, the risk of loss or damage to the goods, and any increase in costs, are transferred to the exporter by the importer, when the goods are delivered into custody of the transporter. This Incoterm may be used for any mode of transportation. - DAF – Delivered At Frontier - the exporter must deliver the goods at the designated place and location on the frontier, prior to crossing over to the country of destination. This term is used principally in the case of highway or railroad