Incoterms® 2020

• The seller grants the buyer access to the products at its own premises (factory or warehouse), completed in accordance with the contract, but not cleared for export or loaded onto vehicles.
• The buyer bears all risks and all costs associated with carrying the goods to their destination.

Formal handover from seller to buyer: At factory gate.

• This clause may be used for all types of transport.
• The seller is obliged to load the export goods (ready to export) on the means of transport chosen by the buyer.

Formal handover from seller to buyer:

1. If the stated location is the seller’s place of business when the goods are loaded on the means of transport provided by the buyer.
2. If another location is chosen, as soon as the goods have been made available to the carrier or other party designated by the buyer (foreign location) on the seller’s means of transport ready for unloading.

• Equivalent to CFR, but adapted to other modes of transport than sea freight.
• The seller pays the freight to the specified destination, but the risk on the goods passes to the buyer as soon as the goods have been delivered to the first carrier.

Formal handover from seller to buyer: Occurs when the main transport is completed – on delivery to the terminal.

• Equivalent to CIF, but adapted to other modes of transport than sea freight.
• The seller pays for freight and insurance.
• The seller must insure the goods at its own cost on A terms (full value)

Formal handover from seller to buyer: The seller takes out insurance for the agreed location on behalf of the buyer.

• Means that the seller delivers when the goods are made available to the buyer and when the consignment reaches the agreed location.
• The seller bears all risks associated with transport to the named destination.

Formal handover from seller to buyer: At the agreed place of delivery, but not unloaded and without customs clearance.

• The seller has fulfilled its delivery obligation when the goods (without customs clearance) have been unloaded and made available to the buyer at the agreed place of delivery/address.
• The seller bears all risks associated with transport to, and unloading at, the agreed place of delivery/address.

Formal handover from seller to buyer: Agreed place of delivery/address without customs clearance, but unloaded.

• Means that the seller covers all transport costs and assumes all risk until the goods have been delivered, and also pays any customs duties (import and export).

Formal handover from seller to buyer: At the customer’s premises, with completion of customs clearance, but not unloaded.

• This clause may only be used for sea freight, at sea or on canals.
• The seller must hand over the goods, cleared for export, adjacent to the ship in the named port.
• The buyer bears all risk and all costs after this time.

Formal handover from seller to buyer: Agreed delivery location.

• Only used for sea freight.
• The seller must load the goods on board the ship specified by the buyer.
• Responsibility for the goods is transferred to the buyer as soon as the goods are on board the ship.
• The seller must clear the goods for export.

Formal handover from seller to buyer: In the ship's cargo hold

• Only used for sea freight.
• The seller must bear all costs and freight up to the specified unloading port.
• However, the risk will be transferred to the buyer as soon as the goods are loaded on board the ship.

Formal handover from seller to buyer: Main transport is paid by the seller, but at the buyer’s risk.

Only used for sea freight.

• In principle the same as CFR, except that the seller also bears the responsibility for insuring the goods on behalf of the buyer, on C terms (risk insurance)
• The insurance only covers the minimum requirements and should the buyer require additional coverage, this must arranged by the buyer, since the buyer assumes the risk on loading into the ship.

Formal handover from seller to buyer: Main transport and insurance are paid by the seller.