Shipping & logisticsincoterms
Incoterms
Standardised international commerce terms published by the ICC, defining risk/cost split.
Incoterms (current edition: Incoterms 2020) are standardised three-letter terms published by the International Chamber of Commerce (ICC). They define who pays for what and where risk passes from seller to buyer.
For oil the most common are: FOB, CFR, CIF, and less often DAP/DPU at discharge.
Incoterms do NOT cover payment, title transfer, or force majeure — that's all in the SPA.
Frequently asked
- What does Incoterms mean in oil and commodity trading?
- Standardised international commerce terms published by the ICC, defining risk/cost split.
- How do I check a counterparty that uses Incoterms in a deal?
- The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against OilFlow's first-party fraud-cluster corpus in seconds, and confirm identity documents and banking details independently before you transact.
See also
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