INCOTERMS

Popular Terms
International commercial terms. Thirteen terms of sale accepted worldwide in assignment of costs and responsibilities between the buyer and the seller. Proposed, updated, and copyrighted by the International Chamber Of Commerce (ICC), they serve as global standards for uniform interpretation of common contract clauses in international trade. The last revision (1999) is named 'INCOTERMS 2000.' In brief these terms are (1) C&F (Cost And Freight), (2) CIF (Cost, insurance, And Freight), (3) Delivered At Frontier, (4) Delivered Duty Paid, (5) Ex quay, (6) Ex ship, (7) Ex works, (8) FAS (Free Alongside Ship), (9) FOB (Free On Board), (10) FOB Airport, (11) FOR/FOT (Free On Rail/Free On Truck), (12) Free carrier, (13) Free Carriage Paid To and Free Carriage Paid To And insurance.

Use 'INCOTERMS' in a Sentence

We had been engaged in the negotiations for weeks with the potential business partner, fortunately INCOTERMS were developed to help us.
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You must make sure that any deals you make are following the guidelines set forth by the incoterms and that everything is legit.
16 people found this helpful
I did not want to violate the incoterms because I wanted to continue what I was doing and violating could prevent that.
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