Freight Forwarding Glossary

Glossary

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INCOTERMS: A Set of internationally accepted, fully defined trading terms, devised by the ICC in order to minimize differences of interpretation of such terms, for use by any company, person, etc. When used in a Contract of Sale it normally is followed by the revision date to ensure the parties are aware of the correct edition (E.G.: FAS Rotterdam Incoterms 2000).
See also: CFR, CIF, CIP, CPT, DAF, DDP, DDU, DEQ, DES, EXW, FAS, FCA, FOB