International commercial terms used nearly universally in letters of credit, international contracts and other documents. These include who pays for carriage, loading, unloading, insurance, duties etc. The common Incoterms are CIF, FOB, CFR, and Ex Works. They are compiled and published by the International chamber of Commerce (212.206.1150).
Rules developed by the International Chamber of Commerce to standardize international trade practices, facilitate trade and minimise misunderstandings over commercial terminology. The terms used in foreign trade contracts are codified to define which parties incur the costs and at what specific point the costs are incurred. They are usually referred to in the contact of sale or are implicit according to international trade practices. Français: INCOTERMS Español: INCOTERMS