FOB, CIF, L/C and every other trade term

The 13 Incoterms:

Incoterms are a set of trade terms compiled and adopted by the International Chamber of Commerce (ICC) in Paris for the contract of sale regarding the delivery of goods. The responsibilities of the buyers and sellers are clearly defined in Incoterms 2000. ICC Publication No. 560, Official Rules for the Interpretation of Trade Terms published in September 1999 became effective, January 1, 2000. The thirteen Incoterms are:

• EXW – EX WORKS (...named place)
• FCA – FREE CARRIER (...named place)
• 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 shipment)
• CPT – CARRIAGE PAID TO (...named port of shipment)
• CIP – CARRIAGE AND INSURANCE PAID TO (...named port of shipment)
• DAF – DELIVERED AT FRONTIER (...named place)
• DES – DELIVERED EX SHIP (...named port of shipment)
• DEQ – DELIVERED EX QUAY (...named port of shipment)
• DDU – DELIVERED DUTY UNPAID (...named port of shipment)
• DDP – DELIVERED DUTY PAID (...named port of shipment)