Trade Leads
 

Incoterms


Culture and language may be different but with incoterms you'll be sure to understand your fellow traders.

Incoterms (International Commercial terms) help ease the communication difficulties between traders from around the world.


Introducing Incoterms 2000
This Incoterms eBook will serve as a useful introductory text for traders and others who need to learn about these complex symbols.
They allow the different parties involved in an import/export transaction to be clear at what points ownership and payment responsiblities transfer from one party to the other.

Incoterms relate to the rights and obligations of the parties to the contract of sale with respect to the delivery of goods sold, but excluding "intangibles" like computer software.

There are 13 Incoterms each represented by a 3 letter abbreviation.

EXW EX Works (... named place)
FCA Free Carrier (... named place)
FAS Free Alongside 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)
CPT Carriage Paid To (... named place of destination)
CIP Carriage And Insurance Paid To (... named place of destination)
DAF Delivered At Frontier (... named place)
DES Delivered EX Ship (... named port of destination)
DEQ Delivered EX Quay (... named port of destination)
DDU Delivered Duty Unpaid (... named place of destination)
DDP Delivered Duty Paid (... named place of destination)


The International Chamber of Commerce, ICC, recommends that 'Incoterms 2000' be referred to whenever the terms are used.

Correct usage would be: FOB London Incoterms 2000