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Incoterms

Incoterms 2020 Cost & Risk Split

Who is responsible for each cost and risk stage under all 11 Incoterms 2020 rules. Includes transport-mode guidance, insurance requirements and the FCA on-board B/L provision.

Incoterms 2020
Reviewed against UCP 600 · Incoterms 2020 · WCO HSLast reviewed July 2026
Transport mode
Incoterm
View
CIFCost, Insurance and FreightBest Fit
Modes: Sea, Inland Waterway
Risk transfers: On board vessel at port of loading
Obligation split
Export Packaging
Seller
Inland Transport (Origin)
Seller
Export Clearance
Seller
Loading on Vessel
Seller
Main Carriage (Freight)
Seller
Insurance
Seller (min ICC-C)
Destination Charges
Buyer
Import Clearance
Buyer
Import Duty
Buyer
Insurance required
Seller must arrange cover. Minimum: Institute Cargo Clauses (C) - named perils only. Coverage min 110% of CIF/CIP value per UCP 600 Art. 28(f).
CIF minimum insurance is ICC (C) - named perils only. Does not cover theft, water damage, or contamination.
For high-value goods specify Institute Cargo Clauses (A).
Coverage must be min 110% of CIF value per UCP 600 Art. 28(f).
LC guidance
Best fit for LC transactions. Natural document set: Invoice + B/L + Insurance Certificate.
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Frequently asked questions

How many Incoterms are there in 2020?

Eleven. Seven for any mode of transport (EXW, FCA, CPT, CIP, DAP, DPU, DDP) and four for sea and inland waterway only (FAS, FOB, CFR, CIF).

What replaced DAT in Incoterms 2020?

DPU (Delivered at Place Unloaded) replaced DAT (Delivered at Terminal), broadening the delivery point beyond terminals to any place where the seller unloads.

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