INCOTERMS 2010
(Validity: January 1, 2011)
ICC published Incoterms 2010 revision on September 27, 2010. Aforementioned revision had come into effect as of January 1, 2011. INCOTERMS is a term that is formed by combining words such as international, commercial and terms. INCOTERMS is prepared by ICC (International Chamber of Commerce).
In Incoterms 2010, types of delivery are reduced from 13 to 11.
Four delivery types are abolished and two new delivery types are formed.
Delivery Types That Are Used in All Transportation Modes:
| EXW |
Ex Works |
|
FCA- |
Free Carrier |
|
CPT- |
Carriage Paid To |
|
CIP- |
Carriage and Insured Paid To |
|
DAT- (NEW |
Delivered At Terminal |
|
DAP- (NEW) |
Delivered At Place |
|
DDP- |
Delivered Duty Paid |
Delivery Types That Are Used Only in Sea Transportation and Inland Waterway Transportation:
| FAS- |
Free Alongside Ship |
|
FOB- |
Free On Board |
|
CFR- |
Cost and Freight |
|
CIF- |
Cost, Insurance And Freight |
Only CIP and CIF delivery types foresee that seller should insure his goods.
IN SUMMARY:
(DDU, DES, DEQ AND DAF THAT WERE IN INCOTERMS 2000 WERE ABOLISHED, AND DAT AND DAP DELIVERY TYPES WERE ADDED TO INCOTERMS 2010 WHICH ENTERED INTO FORCE ON JANUARY 1, 2011.)