ICC Rules · In force since 1 January 2020
Eleven rules that decide who carries the risk when goods cross a border.
Incoterms 2020 are three-letter shorthand for the messiest part of any sale contract: delivery point, cost split, insurance and customs. Read each rule below, then prove you know them.
Ex Works
Buyer does everything from the seller's door.
Free Carrier
Seller hands the goods to the buyer's carrier, export-cleared.
Carriage Paid To
Seller pays freight to the destination, but risk passes at origin.
Carriage and Insurance Paid To
CPT plus all-risks insurance bought by the seller.
Delivered at Place
Seller delivers to the agreed address, ready for unloading.
Delivered at Place Unloaded
The only rule where the seller must unload the goods.
Delivered Duty Paid
Maximum seller obligation — duty-paid to the buyer's door.
Free Alongside Ship
Goods placed on the quay next to the vessel.
Free on Board
Risk passes once the goods are on board the vessel.
Cost and Freight
Seller pays ocean freight; risk still passes on board at origin.
Cost, Insurance and Freight
CFR plus minimum-cover marine insurance.