Reference · Incoterms® 2020
All eleven Incoterms® 2020 rules — and, beside each, what the term means in execution: bankability, the document a financier holds as collateral, whether the insurance is adequate, and who carries customs and CBAM. Select a term to see where risk and cost move between seller and buyer.
How to read this. The filled portion of each bar is the seller’s responsibility; the open portion is the buyer’s. The marker shows where that responsibility passes. Where the two markers sit apart — as in CFR, CIF, CPT and CIP — risk and cost transfer at different points, the single most misread feature of the rules.
Incoterms® and the Incoterms® 2020 rules are a trademark of the International Chamber of Commerce. This page is an independent reference: the explanations are paraphrased and indicative, not the official ICC text, which is published by ICC. Transfer points are simplified for orientation and may be varied by contract. This is not legal or trade-finance advice.