incoterms

listen to the pronunciation of incoterms
الإنجليزية - التركية
(Spor) Milletlerarası Ticaret Odası'nın (ICC) ticari satış terimleri için kullandığı kısaltmalar kataloğu
الإنجليزية - الإنجليزية
Incoterms or international commercial terms are a series of international sales terms that are widely used throughout the world. They are used to divide transaction costs and responsibilities between buyer and seller and reflect state-of-the-art transportation practices. They closely correspond to the U.N. Convention on Contracts for the International Sale of Goods
A set of international rules promulgated by the International Chamber of Commerce for the uniform interpretation of commonly used trade terms in foreign trade They describe in detail the responsibilities of the sellers and buyers in international trade They are: EXW (Ex Works), FCA (Free Carrier), FAS (Free Alongside), FOB (Free on Board), CFR (Cost and Freight), CIF (Cost, Insurance, Freight), CPT (Carriage Paid To), CIP (Carriage and Insurance Paid to), DAF (Delivered at Frontier), DES (Delivered Ex Ship), DEQ (Delivered Ex Quay), DDU (Delivered Duty Unpaid) and DDP (Delivered Duty Paid)
A code of international rules for the uniform interpretation of common contract clauses in export/import transactions The 13 incoterms are: Ex Works; Free Carrier; Free Alongside Ship; Free On Board; Cost and Freight; Cost, Insurance and Freight; Carriage Paid To; Carriage and Insurance Paid to: Delivered at Frontier; Delivered Ex Ship; Delivered Ex Quay; Delivered Duty Unpaid; Delivered Duty Paid See individual listings for definitions
The rules established by the International Chamber of Commerce to standardize the use of international trade terms INCOTERMS determine the division of cost and risk between buyer and seller, and the obligation each has to the other under their contract
A Set of internationally accepted, fully defined trading terms, devised by the ICC in order to minimise 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 (EG: FAS Rotterdam Incoterms 1995) Includes EXW, FAC, FAS, FOB, CFR, CIF, CPT, DAF, DES, DEQ, DDU, DDP Refer: Incoterms other trading terms
The International Commercial Terms are international regulations which have been drawn up for the interpretation of supply clauses in international trade and commerce They embrace the fundamental contractual obligations on the part of both the exporter and the importer, with particular reference to the transportation of goods and the transfer of costs and perils form the exporter to the importer Two variations of this arrangement are CIF and FOB
plural of incoterm
Standard set of definitions for delivery terms (terms of sale) established by the International Chamber of Commerce
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)
The purpose of Incoterms is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree The terms are grouped into four different categories: the E term - Ex worksthe seller only makes the goods available to the buyer at the seller's own premises the F terms - FCA, FAS, FOBthe seller must deliver the goods to a carrier appointed by the buyer the C terms - CFR, CIF, CPT, CIPthe seller has to contract for carriage, but without assuming the risk of loss of or damage to the goods after shipment and dispatch the D terms - DAF, DES, DEQ, DDU, DDPthe seller must bear all costs and risks needed to bring the goods to the place of destinationGlossary IndexIncoterms
Trade contract terms established by the International Chamber of Commerce (ex - FOB (Free on Board), DDP (Delivered Duty Paid)
A set of international rules for the interpretation of the common sales terms used in foreign trade associations and published by the International Chamber of Commerce in its 1980 Edition This publication supersedes the "Revised American Foreign Trade Definitions - 1941," which was adopted by a Joint Committee of Chamber of Commerce of the U S , the National Council of American Importers, Inc , and the National Foreign Trade Council, Inc
Trade terms in coded form as established by the International Chamber of Commerce in 1953, whereafter they have been regularly updated (Last update 1990) The terms represent a set of international rules for the interpretation of the principal terms of delivery used in trade contracts
The Incoterms contain uniform regulations of essential buyer and seller obligations for the most important delivery contracts common in international trade With the application of the Incoterms (International Commercial Terms), the contractual parties achieve an internationally uniform interpretation of certain obligations of buyer and seller Independent of the industrial sector and cross-border, the required activities for the execution of an international sales contract are divided between buyer and seller according to the selected clause This contractual regulation is necessary, because the laws of the various countries contain a comprehensive regulation in the least cases only and, above all, they differ substantially from country to country
Internationally agreed rules for the interpretation of common trade terms, last updated in 2000
A set of international standards for the uniform interpretation of common international trade contract clauses
Incoterms are a set of uniform rules codifying the interpretation of trade terms defining the rights and obligation of both buyer and seller in an international transaction, thereby enabling anotherwise complex basis for a sale contract to be accomplished in three letters Incoterms are drafted by the International Chamber of Commerce
Trade terms published by the International Chamber of Commerce
Incoterms are a series of definitions of terms used in international trade designed by a committee of the International Chambers of Commerce (ICC) They are an attempt to establish a standardized common language for buyers and sellers conducting international business
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 1995) Includes EXW, FAC, FAS, FOB, CFR, CIF, CPT, DAF, DES, DEQ, DDU, DDP
The meanings of trade terms vary from country to country To avoid confusion, standard terms called Incoterms have been developed by the International Chamber of Commerce to make the terms of sale clear and precise Incoterm abbreviations (eg EXW, FOB, CIF) are used to specify the division of obligations, costs and risks between buyer and seller during shipment of goods View an animation about "Incoterms" by clicking here
International rules published by the International Chamber of Commerce for the interpretation of foreign trade terms
International terms of sale developed by the International Chamber of Commerce to define sellers' and buyers' responsibilities
internationally accepted terms concerning transport and insurance costs used in international trade contracts
Maintained by the International Chamber of Commerce (ICC), this codification of terms is used in foreign trade contracts to define which parties incur the costs and at what specific point the costs are incurred
International terms of trade (sometimes referred to as "international commmercial terms") as established by the International Chamber of Commerce Incoterms are the terms (for example, "EXW", "DDP", "CIF", etc ) on which trading parties agree on responsibility for arrangement of/payment for services encountered in international commerce
(Ticaret) Trade contract terms established by the International Chamber of Commerce (ex.- FOB (Free on Board), DDP (Delivered Duty Paid)