Incoterms 2020 Quick Reference
All 11 Incoterms® 2020 rules in one table — who books freight, who pays insurance, who clears customs, and where risk transfers. Filter for sea-only or any-mode rules.
Legend: Seller = cost borne by seller · Buyer = cost borne by buyer · ⚑ = point where risk transfers. Click a row for details. Filter:
| Rule | Name | Freight | Insurance | Export customs | Import customs | Risk transfers at |
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FAQ
What are Incoterms?
Incoterms® are 11 standardized trade terms published by the International Chamber of Commerce (ICC, latest edition 2020) that define who is responsible for transport costs, insurance, customs clearance and where risk passes from seller to buyer.
What is the difference between FOB and CIF?
Under FOB (Free On Board) the seller delivers goods onto the vessel at the origin port and the buyer pays main carriage + insurance. Under CIF the seller additionally pays ocean freight and minimum insurance to the destination port. Risk still transfers at origin in both — CIF only shifts costs, not risk timing.
What is DDP — and why do Chinese sellers love it?
Delivered Duty Paid means the seller covers everything including import duty to the buyer's door. For Amazon FBA and e-commerce, DDP quotes avoid surprises for the buyer; many freight forwarders advertise 'DDP shipping' as all-in per-CBM air/sea rates.
Which Incoterms are sea-only?
FAS, FOB, CFR and CIF apply only to sea/inland waterway. The other seven (EXW, FCA, CPT, CIP, DAP, DPU, DDP) work for any transport mode including air and courier.