Trade Terms Dictionary - Incoterms & Abbreviations
Comprehensive trade terms dictionary covering Incoterms 2020 (EXW/FOB/CIF/DDP), shipping abbreviations (ETD/ETA/FCL/LCL), documents (PI/CI/PL/CO), and inspection certifications.
Incoterms 2020 Trade Terms
11 terms
EXW
Ex Works (named place)
Seller makes goods available at premises. Buyer bears all costs and risks.
FCA
Free Carrier (named place)
Seller delivers goods to carrier nominated by buyer. Export cleared.
FAS
Free Alongside Ship (named port)
Seller places goods alongside vessel at named port. For bulk cargo.
FOB
Free On Board (named port)
Risk transfers when goods are on board vessel. Most common sea freight term.
CFR
Cost & Freight (named port)
FOB + ocean freight. Seller pays freight to destination. Insurance on buyer.
CIF
Cost Insurance Freight (named port)
CFR + minimum insurance. Seller provides 110% invoice value coverage.
CPT
Carriage Paid To (named place)
Any transport mode. Seller pays carriage to named destination.
CIP
Carriage & Insurance Paid To
CPT + insurance. For multimodal transport.
DAP
Delivered at Place (named place)
Seller bears costs and risks to named place. Unloading on buyer.
DPU
Delivered at Place Unloaded
Seller unloads goods. DAP + unloading charges.
DDP
Delivered Duty Paid
Seller bears all costs incl. import duties & VAT until delivery.
Shipping & Logistics Terms
20 terms
ETD
Estimated Time of Departure
ETA
Estimated Time of Arrival
ETB
Estimated Time of Berthing
POL
Port of Loading
POD
Port of Discharge
T/S
Transshipment
CY
Container Yard
CFS
Container Freight Station
FCL
Full Container Load
LCL
Less than Container Load
TEU
Twenty-foot Equivalent Unit
FEU
Forty-foot Equivalent Unit
B/L
Bill of Lading
SWB
Sea Waybill
AWB
Air Waybill
M/F
Manifest
D/O
Delivery Order
THC
Terminal Handling Charges
BAF
Bunker Adjustment Factor
CAF
Currency Adjustment Factor
Trade Documents & Settlement
15 terms
PI
Proforma Invoice
CI
Commercial Invoice
PL
Packing List
CO
Certificate of Origin
L/C
Letter of Credit
T/T
Telegraphic Transfer
D/P
Documents against Payment
D/A
Documents against Acceptance
S/C
Sales Confirmation
PO
Purchase Order
MOQ
Minimum Order Quantity
OEM
Original Equipment Manufacturer
ODM
Original Design Manufacturer
FOC
Free of Charge
N/A
Not Applicable
Inspection & Certification
9 terms
SGS
Société Générale de Surveillance
BV
Bureau Veritas
CE
Conformité Européenne
RoHS
Restriction of Hazardous Substances
FCC
Federal Communications Commission
FDA
Food and Drug Administration
ISO
International Organization for Standardization
GOTS
Global Organic Textile Standard
REACH
Registration, Evaluation, Authorisation of Chemicals