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09 March, 2022

Inco-terms

 Inco-terms, short for "International Commercial Terms," are used to make international trade easier by helping traders in different countries understand one another that was published by the International Chamber of Commerce (ICC) are commonly used in both international and domestic trade contracts. The last revision (1999) is named 'INCOTERMS 2000'. In brief these terms are: Cost & Freight, Cost- insurance-Freight, Delivered at frontier, delivered duty paid, ex quay, ex ship, ex works, free alongside ship, free on board, free on board airport, free on rail/free on truck, free carrier, free carriage paid to and free carriage paid to and insurance.