EXW: Ex Works - Place of delivery
Ex Works terms means that seller will make goods available for pick up, normally factory or warehouse, for buyer. It is buyer's responsibility to collect goods and make arrangement for shipment to his location.
FCA: Free Carrier
Seller will hand over goods custom cleared to first carrier nominated by the buyer at designated place of delivery. Risk passes into the hands of buyer once such delivery is made.
FAS: Free Alongside Ship
Seller will make goods available alongside ship duly custom cleared and buyer is responsible for loading into ship. This type of contract is used frequently for bulky cargo where loading expenses are significant. It is not used for containerised cargo or multimodal cargo.
FOB: Free on Board (place)
This is most common as well as most misunderstood incoterms. Seller must get goods ready for export and load them in specified ship at port designated by buyer.
CFR: Cost and Freight
It is also known as C&F or CNF but actual incoterms as per 2011 nomenclature is CFR. Seller is responsible for all cost of bringing goods to designated port generally in buyer's country.
CIF: Cost, Insurance and Freight
Same as CFR but seller also pays for insurance of goods.
DAT: Delivered at Terminal
Seller pay to deliver to terminal in buyer's country. Buyer pays all cost of import.
DAP: Deliver at Place
Seller pays for transport to specified destination but buyer pays for import duties and taxes. Seller assumes all responsibility until buyer takes delivery of goods
DDP: Delivery duty paid
Seller is responsible for delivery at location in buyer's country and pays for all cost including customs duties and taxes.