IncotermsCode

Is a contractual code used to describe the point where delivery occurs (goods ownership is transferred) in a contract of sale.  It identifies the rights and obligations of each partner  (supplier, carrier and customer) in the transaction and may specify the requirements to assume ownership (i.e. paying for the cost of the goods and/or transportation).

The United Nations Trade Facilitation Information Exchange (UN/TraFIX) has established the following codes (INCOTERMS 2010) for use in international trade. (See http://www.unece.org/cefact/recommendations/rec_index.htm).  These terms may also be found in the United States Uniform Commercial Code (UCC).

EXAMPLES 
General transport	
EXW - Ex Works ... (named place) 
FCA - Free Carrier ... (named place)
CPT - Carriage Paid ... (named place of destination)
CIP - Carriage and Insurance Paid To ... (named place of destination)
DAT - Delivered at Terminal
DAP - Delivered at Place ... (named place of destination)
DDP - Delivered Duty Paid ... (destination place)
Water transportation
FAS - Free Along Ship ... (named port of shipment)
FOB - Free On Board ... (named port of shipment)
CFR - Cost and Freight ... (named port of destination)
CIF - Cost, Insurance and Freight ... (named port of destination)