INCOTERMS 2000

EXW
EX WORKS (…named place)*
Seller makes goods available to buyer at the sellers premises. Buyer responsible for the rest of the carriage including freight and insurance. Minimum obligation to the seller

FCA
FREE CARRIER (…named place)
The seller hands over the goods, cleared for export, into the custody of the first carrier (named by the buyer) at the named place. This term is suitable for all modes of transport, including carriage by air, rail, road, and containerized / multi-modal transport.

FAS
FREE ALONGSIDE SHIP (…named port of shipment)*
The seller must place the goods alongside the ship at the named port. The seller must clear the goods for export; this changed in the 2000 version of the Incoterms. Suitable for maritime transport only.

FOB
FREE ON BOARD (…named port of shipment)
Seller delivers goods to the ship. Freight to be paid by buyer insurance and rest of the carriage in his responsibility

CFR
COST AND FREIGHT (…named port of destination)
Seller delivers goods to the ship and also pays the freight till port of discharge. Insurance and rest for the carriage is buyer’s responsibility. This term is only applicable where carriage is by sea or inland waterway transport (also named as CNF)

CIF
COST, INSURANCE AND FREIGHT (…named port of destination)*
Seller deliver goods to the ship, pays the freight till port of discharge also arranges insurance at his cost. Rest of the carriage is buyers responsibility. This term is applicable only applicable where carriage is by sea or inland water way transport

CPT
CARRIAGE PAID TO (…named place of destination)
Seller delivers goods into the custody of carrier and also pays the freight till port of destination. Insurance and rest the carriage is buyer’s responsibility. This term is appropriate for all modes of transport but commonly used for air and multimodal transport

CIP
CARRIAGE AND INSURANCE PAID TO (…named place of destination)*
Seller delivers goods in to custody of carrier, pays the freight till port of destination also arranges insurance at his cost. Rest of the carriage is buyers responsibility. This term is appropriate for all modes of transport but commonly used for air and multimodal transport

DAF
DELIVERED AT FRONTIER (…named place)*
This term can be used when the goods are transported by rail and road. The seller pays for transportation to the named place of delivery at the frontier. The buyer arranges for customs clearance and pays for transportation from the frontier to his factory. The passing of risk occurs at the frontier.

DES
DELIVERED EX SHIP (…named port of destination)
Where goods are delivered ex ship, the passing of risk does not occur until the ship has arrived at the named port of destination and the goods made available for unloading to the buyer. The seller pays the same freight and insurance costs as he would under a CIF arrangement. Unlike CFR and CIF terms, the seller has agreed to bear not just cost, but also Risk and Title up to the arrival of the vessel at the named port. Costs for unloading the goods and any duties, taxes, etc… are for the Buyer. A commonly used term in shipping bulk commodities, such as coal, grain, dry chemicals - - - and where the seller either owns or has chartered, their own vessel.

DEQ
DELIVERED EX QUAY (…named port of destination)*
This is similar to DES, but the passing of risk does not occur until the goods have been unloaded at the port of destination.

DDU
DELIVERED DUTY UNPAID (…named place of destination)*
This term means that the seller delivers the goods to the buyer to the named place of destination in the contract of sale. The goods are not cleared for import or unloaded from any form of transport at the place of destination. The buyer is responsible for the costs and risks for the unloading, duty and any subsequent delivery beyond the place of destination. However, if the buyer wishes the seller to bear cost and risks associated with the import clearance, duty, unloading and subsequent delivery beyond the place of destination, then this all needs to be explicitly agreed upon in the contract of sale.

DDP
DELIVERED DUTY PAID (…named place of destination)*
This term means that the seller pays for all transportation costs and bears all risk until the goods have been delivered and pays the duty. Also used interchangeably with the term "Free Domicile". The most comprehensive term for the buyer. In most of the importing countries, taxes such as (but not limited to) VAT and excises should not be considered prepaid being handled as a "refundable" tax. Therefore VAT and excises usually are not representing a direct cost for the importer since they will be recovered against the sales on the local (domestic) market.