INCOTERMS® 2020 Rules: Overview
A Practice Note providing an overview on using the Incoterms® 2020 Rules in international and domestic US contracts for the sale of goods. This Note examines the differences between the individual terms and explains when the use of particular terms is likely to be appropriate. Terms discussed include, for example, EXW (Ex Works), FCA (Free Carrier), CPT (Carriage Paid To), CIP (Carriage and Insurance Paid To), DAP (Delivered at Place), DPU (Delivered at Place Unloaded), DDP (Delivered Duty Paid), FAS (Free Alongside Ship), FOB (Free on Board), CFR (Cost and Freight), and CIF (Cost, Insurance and Freight).
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