Incoterms
Trade terms, published by the International Chamber of Commerce (ICC), that are commonly used in international contracts. Investopedia Says:
Incoterms are used to make international trade easier by helping traders in different countries understand one another.
Trade terms used internationally (such as Incoterms) are often identical in form to domestic terms (such as the American Uniform Commercial Code), but have different meanings. Therefore, it is important to indicate the particular law that governs their terms. For example, to use the Incoterm definition, a contract might refer to: "FOB (Incoterms 2000)." Related Terms:
Cost and Freight - CFR
Cost, Insurance and Freight - CIF
Currency Adjustment Factor - CAF
Delivered At Frontier - DAF
Delivered Ex Quay - DEQ
Delivered Ex Ship - DES
Ex Works - EXW
Free Alongside - FAS
Free Carrier - FCA
Free On Board - FOB |