Glossary

Delivered at Place Unloaded (DPU) is an incoterm that requires the seller to deliver the goods to a specific location after they have been unloaded.

Delivered Duty Paid (DDP) is an incoterm that outlines the seller’s obligation to cover all delivery costs, including import duties and customs taxes.

EXW (Ex Works) is an incoterm that the buyer collects goods from the seller’s designated place, and bears all costs and risks up to the destination.

Free Alongside Ship (FAS) is an incoterm in which the seller delivers the cargo, clears the export, and places it alongside a vessel at a named port.

Free on Board (FOB) is an incoterm that specifies when the seller and buyer take on the respective costs, obligations, and risks for the cargo in delivery.

Cost and Freight (CFR) is an incoterm in which the seller covers the cost of delivery to the named port, export clearance, and vessel loading.

Cost, Insurance, Freight (CIF) is an incoterm that requires the seller to deliver the goods, clear the export, and provide minimum insurance coverage.

Free Carrier (FCA) is an incoterm that requires the seller to clear the export and deliver the goods to a named place for transfer to the carrier.

An Importer Security Filing (ISF) is a filing requirement of the US Customs and Border Protection (CBP) for all ocean shipment imports bound for the US.