Incoterms 2000

Incoterms are international rules that are accepted by governments, legal authorities and practitioners worldwide for the interpretation of the most commonly used terms in international trade. They either reduce or remove altogether uncertainties arising from differing interpretations of such terms in different countries.
The scope of Incoterms is limited to matters relating 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.
Each Incoterm is referred to by a three-letter abbreviation. There are 13 Incoterms as below:

1. Ex Work (EXW),
2. Free On Board (FOB),
3. Free Carrier (FCA),
4. Free Alongside Ship (FAS),
5. Cost and Freight (CFR),
6. Cost, Insurance and Freight (CIF),
7. Carriage Paid To (CPT).
8. Carriage and Insurance Paid To (CIP),
9. Delivered at Frontier (DAF).
10. Delivered Ex Ship (DES),
11. Delivered Ex Quay (DEQ),
12. Delivered Duty Unpaid (DDU), and
13. Delivered Duty Paid (DDP).

Detailed explanation of each incoterm will be covered in coming up posts. Thank you for visiting Zephyr Free Online Learning Center. Hope to see you again.