Sock WholesalersPage last updated: October 30, 2026
Incoterms® 2020: the edition, the four codes, and where the term is printed
Incoterms® 2020 is the current ICC rulebook that defines the trade terms on this site. Four codes are quoted here (EXW, FOB, DDP and DAP), and the edition is named every time, because a three-letter code without its year edition is a statement nobody can price.
- 2020The edition every term on this site is quoted on
- Four codesEXW, FOB, DDP and DAP
- Proforma invoiceCarries the term, the currency and the validity dates
- One working dayFor the quotation with the term on it
1. What the rulebook is
Incoterms® 2020 is the current ICC rulebook that defines the trade terms used on this site. It is published by the International Chamber of Commerce, and the rules themselves are the ICC’s, not ours; what this site does is choose which codes it trades on and say so.
The rulebook decides one thing: where cost and risk change hands between buyer and seller. It does not decide the price, the quantity, the specification or the lead time. Those are the order, and they sit in the quotation and the proforma invoice.
2. The four codes we quote
We quote the best term for your market (EXW, FOB, DDP or DAP, Incoterms® 2020) and confirm it with your quotation. These are the descriptions published on this site, one page each:
| Code | What the site states |
|---|---|
| EXW | We hand over the goods at the factory door and you carry everything from there. |
| FOB | We deliver goods onto the vessel at the Chinese port and you carry the main carriage. |
| DAP | We carry the goods to your named destination, with import duty and taxes unpaid and for your account; compare the DDP row. |
| DDP | We carry the goods to your destination with duty and taxes paid. |
A fifth code is not on the list: FCA is not quoted here, and the FCA page says so in as many words rather than describing a term we do not run.
3. Why the edition is named
The three-letter code only carries its standard meaning inside the year edition named on the document. A quotation that says FOB and nothing else is not a complete statement, because the rulebook has been revised between editions and the revisions are not cosmetic.
That is why every term on this site is written with its edition attached: EXW, FOB, DDP or DAP, Incoterms® 2020. It is also why the same rulebook is linked to its publisher above rather than paraphrased from memory.
4. Where the term is printed
- 01The quotation names it. A quotation is the costing sent against your brief: a reference range, the trade term it is quoted on, and the MOQ. It is an invitation to proceed.
- 02The proforma invoice binds it. The proforma invoice carries price, trade term, quantity, lead time and payment terms, plus the validity dates, the currency and how the term treats duty.
- 03The market notes narrow it. US-bound: DDP or DAP, with the duty treatment confirmed on the quotation. EU-bound: DAP or DDP, with the value on the quotation.
The clause in full: wholesale terms, section 6: trade terms, duty, and how a quotation stands. The definitions in context: socks glossary, section D.
Ask for the quotation, and read the term on it
The reply names the term, the edition and the quantity band in the same message. The binding version of all of it is the proforma invoice.
sales@sockwholesalers.com, +86-13761030160. We answer every enquiry within one working day; replies come from Michelle Zhang, Export sales manager.