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What does FOB Mean in Shipping Terms?FOB is the most common agreement between an international buyer and seller when shipping cargo via sea. This Incoterm only applies to sea and

What are Incoterms?Every 10 years, the ICC updates the Incoterms to ensure that they stay consistent with the current process of international trade. Incoterms were last updated on January 1st,

What does FAS Mean in Incoterms?On January 1st, 2020, the International Commerce Center published what is currently the most up to date International Commercial Trade Terms, Incoterms 2020. Commentary from

What does CPT Mean in Shipping Terms?The liability of the shipment transfers once the goods are delivered to the first carrier, usually at the origin port. CPT can be used

What does EX Works (EXW) Mean in shipping terms?Ex Works is an Incoterm used for all forms of shipping, regardless of the mode, or legs of the transport. Under this

What does CIF stand for in Shipping Terms?CIF is a Shipping Incoterm that stands for: Cost, Insurance, Freight agreement, with the seller holding responsibility for all three. When purchasing internationally,