For business terminology to be effective, phrases must mean the same thing throughout the industry.

 

That is why the International Chamber of Commerce created "INCOTERMS"® in 1936. INCOTERMS® are designed to create a bridge between different members of the industry by acting as a uniform language they can use.

 

Each INCOTERM® refers to a type of agreement for the purchase and shipping of goods internationally. There are 13 different terms, each of which helps users deal with different situations involving the movement of goods. 

INCOTERMS® also deal with the documentation required for global trade, specifying which parties are responsible for which documents. Determining the paperwork required to move a shipment is an important job, since requirements vary so much between countries.

 

 

For your very own copy of the INCOTERMS® 2010 charts & additional information, please kindly refer to www.iccbooks.com

 

Click here to print a copy of INCOTERMS® glossary