INCOTERMS, acronym of “International Commercial Terms” is the list of terms used in the field of imports and exports, valid worldwide, which unambiguously and without the possibility of error defines any right and duty which is competent towards the various legal entities involved in a transfer of goods from one country to another.
Each individual acronym encoded in the Incoterms clearly defines who should bear the costs and responsibilities for each stage of transport, for customs fees at departure and arrival, for insurance costs and more.

An important part is the indication, after the acronym, of the specific name of the geographical location, the border, or the port/airport to which the acronym refers.
The Incoterms were ratified by the International Chamber of Commerce (ICC) and originally published in English with authorized translation into 31 other languages by the various national chambers of commerce.
On this page we provide our complete Synoptic Table of Incoterms.

Synoptic-comparative table of Incoterms 2020

  1. In this Table, in which the conditions of return of goods are represented schematically according to the 11 Rules of Incoterms 2020, the item “EXPENSES” always includes, unless otherwise specified, transport costs. The EXW, involves the minimum level, and the DDP the maximum level, of obligations for the seller.
    In the EXW, the seller only must make the goods available to the buyer at his own premises or at another agreed point. In the DDP, the seller must clear the goods both for export and for import into the destination country and must also arrange for its transport to the “agreed place of destination” where the delivery takes place, with the consequent transfer of risks; This location can also be located anywhere within the country of destination. This also applies to DAP, except, of course, for import customs clearance, which is borne by the importer. Also, in the CPT and CIP the “place of destination” (and in the CFR and CIF the “port of destination”) may be within the country of destination; However, in these last four Rules the delivery takes place “on departure”, returning the goods to the carrier (or first carrier) and the seller bears the cost (but not the risk) for the transport of the goods to their destination.
  2. The risks of loss or damage to the goods pass from the seller to the buyer at the time of delivery; if the buyer – or the carrier or other person acting on behalf of the buyer – does not take delivery of the goods within the agreed time and place or if the buyer does not give the seller, in due time, the instructions that the buyer needs in order to deliver the goods, The risks that the goods may incur from the date (or final date) of delivery and any additional burden on the goods shall be borne by the buyer, provided, however, that the goods have been identified as the goods covered by the contract.
  3. The seller is obliged to insure the goods only in the CIF and CIP Rules, as prescribed in these Rules; seller and buyer can, of course, agree to a wider coverage than the already mentioned two Rules; they may also provide, each on their own account, to insure the goods for the dealing of risk of respective right, whatever the Rule used.
  4. In the CPT-CIP-DAP-DDP-CFR-CIF Rules the unloading costs are borne by the buyer.
    On the other hand, they are imposed on the seller if they are included in the contract of carriage, which he concludes at his own expense.

On this page we provide the synoptic-comparative table of Incoterms 2020.

On this page we provide the press of Incoterms.

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