International Commercial Terms, known as "Incoterms", are internationally accepted terms defining the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various stages of the transaction.

INCOTERMS 2010 are effective since 1st January 2011 and are acknowledged for both domestic and international trade. Incoterms 2010 comprise of 11 terms which are divided into two categories:

1. Rules for Any Mode of Transport:

These can be used in cases when there is no maritime transport involved at all OR when maritime transport is used for part of the transportation (multimodal transportation) only. They include:

CIP - Carriage and Insurance Paid
CPT - Carriage Paid To
DAP - Delivered At Place
DAT - Delivered At Terminal
DDP - Delivered Duty Paid
EXW - Ex Works
FCA - Free Carrier

2. Rules for Sea and Inland Waterway Transportation:

These can be used in the case where the point of delivery and the place to which the goods are carried to the buyer are both ports. They include:

CFR - Cost and Freight
CIF - Cost, Insurance and Freight
FAS - Free Alongside Ship
FOB - Free On Board