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Incoterms®, Freight Forwarding Terms and Glossary

These are common Incoterms® 2010 (pre-defined commercial terms) by the International Chamber of Commerce (ICC). They are widely used in International commercial transactions or procurement processes.

The two main categories of Incoterms® 2010 are organised by modes of transport. The aim is to clearly stipulate the obligations of buyers and sellers.

Group 1. Incoterms® that apply to any mode of transport are:

    •    EXW Ex Works
    •    FCA Free Carrier
    •    CPT Carriage Paid To
    •    CIP Carriage and Insurance Paid To
    •    DAT Delivered at Terminal
    •    DAP Delivered at Place
    •    DDP Delivered Duty Paid
    •    DDU Delivered Duty Unpaid

Group 2. Incoterms® that apply to sea and inland waterway transport only:

    •    FAS Free Alongside Ship
    •    FOB Free on Board
    •    CFR Cost and Freight
    •    CIF Cost, Insurance, and Freight

For further explanation of Incoterms® 2010 and specific advice please contact your Key Account Manager at Henning Harders (New Zealand).