INCOTERMS 2020 - QUICK REFERENCE EXW Ex Works Buyer bears almost all costs and risk from seller's premises. FCA Free Carrier Seller delivers to the carrier named by the buyer; seller clears export. CPT Carriage Paid To Seller pays carriage to named destination; risk passes at first carrier. CIP Carriage & Insurance Paid To As CPT plus seller insures cargo (higher cover). DAP Delivered At Place Seller delivers ready for unloading; buyer clears import. DPU Delivered At Place Unloaded Seller also unloads at destination. DDP Delivered Duty Paid Seller delivers cleared for import and pays duties. Sea and inland waterway only: FAS Free Alongside Ship FOB Free On Board CFR Cost and Freight CIF Cost, Insurance and Freight