EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DAF, DES, DEQ, DDU, & DDP. Incoterms are the official rules for the worldwide interpretation of trade terms developed under the auspices of the International Chamber of Commerce,
. Incoterms are recognized by the United Nations Commission on International Trade Law as the global standard for such interpretation. Paris, France
Incoterms define the responsibilities of buyer and seller for delivery of goods under sales contracts. They are the authoritative text for determining how costs and risks are allocated to the parties. These terms are regularly incorporated into sales contracts worldwide and have become part of the daily language of trade.
Incoterms 2000, the first revision in ten years, contains the official ICC text of the thirteen trading terms. It takes into account the latest developments in commercial practice and modifies some the existing terms bringing them into line for use in the new millennium. Most sales