Incoterms 2020 Chart – All 11 Rules Explained
A clear, printable Incoterms 2020 chart plus a beginner guide. See at a glance who pays freight, insurance and duties, and where risk transfers under every rule from EXW to DDP.
Incoterms® 2020 are 11 standardised three-letter trade terms published by the International Chamber of Commerce (ICC). Every commercial invoice, sales contract and letter of credit uses them to answer three questions: who arranges transport, who pays for freight and insurance, and where risk passes from the seller to the buyer. Getting the Incoterm right is as important as getting the CBM right — the wrong rule can add thousands in surprise charges.
Incoterms 2020 chart (quick reference)
The chart below groups all 11 Incoterms 2020 rules by transport mode and shows cost and risk responsibility at a glance. Rules in the top block work for any mode of transport; the bottom block is sea and inland waterway only.
| Rule | Full name | Mode | Seller pays freight to | Risk transfers at | Import duty paid by |
|---|---|---|---|---|---|
| EXW | Ex Works | Any | Seller's premises | Seller's premises | Buyer |
| FCA | Free Carrier | Any | Named place / carrier | On handover to carrier | Buyer |
| CPT | Carriage Paid To | Any | Named destination | On handover to first carrier | Buyer |
| CIP | Carriage and Insurance Paid To | Any | Named destination (+ insurance) | On handover to first carrier | Buyer |
| DAP | Delivered at Place | Any | Named destination | At named place, unloaded by buyer | Buyer |
| DPU | Delivered at Place Unloaded | Any | Named destination (unloaded) | After unloading at destination | Buyer |
| DDP | Delivered Duty Paid | Any | Named destination | At named place, duty paid | Seller |
| FAS | Free Alongside Ship | Sea only | Alongside the vessel | Alongside the vessel | Buyer |
| FOB | Free On Board | Sea only | On board the vessel | On board the vessel | Buyer |
| CFR | Cost and Freight | Sea only | Destination port | On board the vessel | Buyer |
| CIF | Cost, Insurance and Freight | Sea only | Destination port (+ insurance) | On board the vessel | Buyer |
The 7 Incoterms for any mode of transport
EXW – Ex Works
The seller makes the goods available at their own premises (factory, warehouse). The buyer pays and takes risk for everything — export clearance, loading, freight, insurance, duties. Cheapest quote on paper, but riskiest for a buyer who does not have an agent in the seller's country.
FCA – Free Carrier
The seller delivers the goods, cleared for export, to a carrier or place named by the buyer. If the named place is the seller's premises, the seller loads the truck; anywhere else, the goods just need to be ready for unloading. Preferred replacement for FOB on containerised cargo.
CPT – Carriage Paid To
The seller pays freight to a named destination but risk transfers as soon as the goods are handed to the first carrier. Buyer should arrange insurance for the main carriage.
CIP – Carriage and Insurance Paid To
Same as CPT, but the seller must also buy all-risks (ICC Clause A) insurance covering the goods to the destination. Under Incoterms 2020 the insurance minimum was upgraded from Clause C to Clause A.
DAP – Delivered at Place
The seller delivers the goods ready for unloading at the buyer's named place. Seller carries all cost and risk of transport. Buyer handles import clearance and unloading.
DPU – Delivered at Place Unloaded
Same as DAP, plus the seller unloads the goods. DPU is the only Incoterm that requires the seller to unload at destination. Replaces the old DAT (Delivered at Terminal).
DDP – Delivered Duty Paid
Maximum obligation for the seller: they pay freight, insurance, import duty, VAT and deliver to the buyer's door. Best for buyers who want a single landed price and no customs paperwork — but confirm the seller can legally act as importer of record in your country.
The 4 Incoterms for sea and inland waterway only
FAS – Free Alongside Ship
The seller delivers the goods alongside the vessel at the named port of shipment. Suitable for bulk and breakbulk cargo (grain, steel, project cargo) — not for containers, which are handed to the terminal well before the ship arrives.
FOB – Free On Board
The classic import term. Seller delivers on board the vessel at the named port; from that moment cost and risk pass to the buyer. Perfect for full-container and traditional break-bulk sea freight — see our 40ft container dimensions and 20ft container guide.
CFR – Cost and Freight
Seller pays ocean freight to the destination port; risk still passes on board. Buyer arranges insurance for the main voyage.
CIF – Cost, Insurance and Freight
Same as CFR, plus the seller buys minimum marine insurance (ICC Clause C) to the destination port. Very common quote from Chinese and Indian suppliers because it gives buyers a single "port-to-port" figure.
What changed in Incoterms 2020
- DAT renamed to DPU — reflects that delivery can be at any place, not just a terminal.
- CIP now requires all-risks insurance (ICC Clause A) instead of the old Clause C minimum.
- FCA allows on-board bill of lading — solves a letter-of-credit problem for container FCA sales.
- Seller's own transport recognised under FCA, DAP, DPU and DDP.
- Security-related obligations (ISPS, container screening) allocated explicitly.
How to choose the right Incoterm
- New importer, small volume? Ask for FOB (sea) or FCA (air/courier). You control the freight forwarder and see the real freight cost.
- Want a single door-to-door price? Ask for DAP. Avoid DDP unless the seller can legally file customs in your country.
- Selling abroad and want minimum hassle? Quote EXW or FCA. The buyer arranges everything after handover.
- Shipping bulk or breakbulk by sea? Use the sea-only rules (FAS, FOB, CFR, CIF).
Incoterms + CBM = accurate freight quotes
The Incoterm decides who pays; the CBM calculator decides how much. Whether your supplier quotes EXW, FOB, CFR or DDP, you still need accurate cubic meters to compare LCL vs FCL, estimate volumetric weight for air freight, and check that the cartons will fit the booked container. Pair this Incoterms chart with our volumetric weight calculator, container capacity calculator and import duty calculator to build a complete landed-cost estimate before you sign the PI.
Frequently asked questions
What are Incoterms 2020?
Incoterms 2020 are the current edition of the ICC's international commercial terms — 11 three-letter rules that define seller and buyer responsibilities for cost, risk and delivery in cross-border shipments.
Is Incoterms 2020 still valid in 2026?
Yes. Incoterms 2020 remains the current version. ICC publishes a new edition roughly every ten years, so Incoterms 2020 will stay in force until the next revision.
What is the difference between FOB and CIF?
Under FOB the buyer arranges and pays for ocean freight and insurance from the port of loading. Under CIF the seller pays freight and minimum insurance to the destination port — but risk still transfers when the cargo is loaded on the vessel, exactly as with FOB.
Does DDP mean the seller pays import duty?
Yes. DDP (Delivered Duty Paid) is the only Incoterm where the seller is responsible for import clearance, duties and taxes in the buyer's country, plus delivery to the named place.