Incoterms 2020
The eleven standard three-letter terms that define who does what in international shipping.
What is Incoterms 2020?
What is Incoterms 2020?
Incoterms 2020 are the eleven internationally agreed three-letter trade terms — EXW, FCA, FOB, CIF, DAP, DDP and five more — published by the International Chamber of Commerce. Each term draws a precise line: who books freight, who insures, who clears customs, and exactly when risk passes from seller to buyer. Quoting suppliers on the same term is the only way to compare offers fairly, and naming the term plus the place ('FOB Shanghai') in your sales contract prevents most freight arguments before they start.