KLC Logistics is a fully integrated logistics hub — the ideal partner if you ship goods in, out of, or through Panama.

Commonly Used Incoterms® (2020)

Incoterms® are international trade rules published by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers in international trade.

CIF – Cost, Insurance and Freight

Similar to CFR, but the seller also provides minimum insurance coverage to the destination port.

DAP – Delivered at Place

The seller delivers goods to a named destination. The buyer is responsible for import duties and taxes.

DDP – Delivered Duty Paid

The seller assumes all costs and risks, including duties and taxes, delivering goods to the buyer’s location.

CPT – Carriage Paid To

The seller pays transportation to the destination, but risk transfers once goods are handed to the first carrier.

CIP – Carriage and Insurance Paid To

Similar to CPT, but includes insurance coverage arranged by the seller.

EXW – Ex Works

The seller makes goods available at their premises. The buyer assumes all transportation, export clearance, and risk from that point forward.

FCA – Free Carrier

The seller delivers goods to a carrier or another party nominated by the buyer at an agreed location. Risk transfers once goods are handed over.

FOB – Free On Board

The seller is responsible until goods are loaded onto the vessel at the port of origin. Risk transfers to the buyer once cargo is onboard.

CFR – Cost and Freight

The seller pays the cost and freight to the destination port. Risk transfers once goods are loaded onto the vessel at origin.