The International Chamber of Commerce (ICC ) has published revisions to its International
Commercial Terms, also known as INCOTERMS®, that take effect on January 1, 2011.
The revised rules, designated "INCOTERMS 2010", contain a series of changes, such as a
reduction in the number of terms to 11 from 13. The DAF, DES, DEQ, and DDU designations
have been eliminated, while two new terms, Delivered at Terminal (DAT) and Delivered at Place
(DAP), have been added. INCOTERMS 2010 also attempt to better take into account the roles cargo
security and electronic data interchange now play in international trade.
The Incoterms are divided by mode of transport:
TERMS FOR ANY TRANSPORT MODE
EXW - EX WORKS (... named place of delivery)
FCA - FREE CARRIER (... named place of delivery)
CPT - CARRIAGE PAID TO (... named place of destination)
CIP - CARRIAGE AND INSURANCE PAID TO (... named place of destination)
DAT - DELIVERED AT TERMINAL (... named terminal at port or place of destination)
DAP - DELIVERED AT PLACE (... named place of destination)
DDP - DELIVERED DUTY PAID (... named place)
MARITIME-ONLY TERMS
FAS - FREE ALONGSIDE SHIP (... named port of shipment)
FOB - FREE ON BOARD (... named port of shipment)
CFR - COST AND FREIGHT (... named port of destination)
CIF - COST INSURANCE AND FREIGHT (... named port of destination)
The INCOTERMS and the UCP500 are published by the:
ICC Publishing S.A.
39, cours Albert 1er
75008 Paris
France
ICC publications and translations thereof are also obtainable from your local ICC representative.