Incoterm


Incoterm
Incoterm In‧co‧term [ˈɪŋkəʊˌtɜːm ǁ -koʊˌtɜːrm] noun [countable] COMMERCE
a word on a list from the International Chamber of Commerce that is used in international trade contracts. The list provides the exact meaning of terms, for example FOB, in order to avoid confusion between people in different countries:

• The ICC's Incoterms are widely used by exporters and forwarders involved in the shipment of goods.

ˌcarriage and inˌsurance ˈpaid abbreviation CIP COMMERCE
an Incoterm stating that the seller pays for the goods to be taken as far as a named place and is responsible for insuring them until then
ˌcarriage ˈpaid to abbreviation CPT COMMERCE
an Incoterm stating that the seller pays for the goods to be taken to a named place. The buyer is responsible for insuring the goods after they have been given to the first carrier (= company moving the goods)
ˌcost and ˈfreight abbreviation CFR COMMERCE
an Incoterm stating that the seller pays for the goods to be taken as far as a named place but is not responsible for insuring them
ˌcost, inˌsurance and ˈfreight abbreviation CIF also cost, freight and insurance abbreviation CFI COMMERCE
an Incoterm stating that the seller pays the cost of transporting the goods to an agreed place, and the cost of insuring them
deˌlivered at ˈfrontier abbreviation DAF COMMERCE
an Incoterm stating that the seller pays for the goods to be taken, usually by road or train, as far as the border of the buyer's country and is responsible for insuring them up to that point
deˌlivered ˌduty ˈpaid abbreviation DDP COMMERCE
an Incoterm stating that the seller pays for the goods to be delivered to the buyer, is responsible for insuring them for the whole journey and pays all related taxes
deˌlivered ˌduty unˈpaid abbreviation DDU COMMERCE
an Incoterm stating that the seller pays for the goods to be delivered to the buyer, is responsible for insuring them for the whole journey but does not pay related taxes
deˌlivered ex ˈquay abbreviation DEQ COMMERCE
an Incoterm stating that the seller is responsible for taking the goods off the ship in a particular port, and making them available there, but not for transporting them anywhere
deˌlivered ex ˈship abbreviation DES COMMERCE
an Incoterm stating that the seller will make the goods available on a ship in a particular port, and the buyer is responsible for paying for the goods to be put on land and transported to where they are needed
ex ˈworks abbreviation EXW COMMERCE
an Incoterm stating that the seller will make goods available to the buyer at the seller's factory, and the buyer is responsible for paying for them to be transported to where they are needed
ˌfree aˌlongside ˈship abbreviation FAS COMMERCE
an Incoterm stating that the seller is responsible for paying for the goods to be taken to a port for export, and any loss or damage to them, up to the time when the goods are ready to be loaded on a ship at the port
ˌfree ˈcarrier abbreviation FCA COMMERCE
an Incoterm stating that the seller is responsible for paying for the goods to be taken to a named place where they are given to the buyer or someone named by the buyer, for example a transport
ˌfree on ˈboard abbreviation FOB COMMERCE
an Incoterm stating that the seller pays for taking the goods to the port where they are placed on a ship for export:

• The port handles about 38 million tonnes of cargo a year, worth about $30 billion free on board.

ˌfree on board ˈairport abbreviation FOB airport COMMERCE
an Incoterm similar to 'free on board', except that the seller is responsible for insuring the goods until they are delivered to a carrier (= company that moves the goods) at a specified airport
ˌfree on ˈrail abbreviation FOR COMMERCE
an Incoterm stating that the seller pays for taking the goods to the place where they are placed on a railway truck of a train which will take them to the buyer:

• The sellers had agreed to deliver the machine free on rail.

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Incoterm UK US (also INCOTERM, INCO term, incoterm) /ˈɪnkəʊtɜːm/ noun [C]
COMMERCE an expression from a list made by the International Chamber of Commerce that is used in the trade of goods from one country to another: »

As an importer, you have to understand the costs, responsibilities, rights, and obligations that accompany the use of a specific INCOTERM.


Financial and business terms. 2012.

Look at other dictionaries:

  • incoterm — [ ɛ̃kotɛrm ] n. m. • 1936; acronyme de l angl. International Commercial Terms ♦ Comm. Terme de commerce international (généralement exprimé par un sigle) définissant les obligations respectives et le partage des responsabilités entre vendeur et… …   Encyclopédie Universelle

  • Incoterm — Los incoterms (acrónimo del inglés international commercial terms, ‘términos internacionales de comercio’) son normas acerca de las condiciones de entrega de las mercancías. Se usan para dividir los costes de las transacciones comerciales… …   Wikipedia Español

  • Incoterm — Incoterms (International Commercial Terms, deutsch: Internationale Handelsklauseln) sind eine Reihe von freiwilligen Regeln zur Auslegung handelsüblicher Vertragsformeln im internationalen Warenhandel. Inhaltsverzeichnis 1 Einzelheiten 2 Incoterm …   Deutsch Wikipedia

  • Incoterm — Incoterms or international commercial terms are a series of international sales terms widely used throughout the world. They are used to divide transaction costs and responsibilities between buyer and seller and reflect state of the art… …   Wikipedia

  • Incoterm — Incoterms Les Incoterms (contraction des mots anglais International Commercial Terms) sont des termes commerciaux, dont la règlementation est édictée et publiée par la Chambre de commerce internationale[1] à Paris. Les Incoterms s expriment par… …   Wikipédia en Français

  • Incoterm — …   Википедия

  • Incoterm — noun Any of a series of international sales terms that divide transaction costs and responsibilities between buyer and seller …   Wiktionary

  • Incoterms — Saltar a navegación, búsqueda Los incoterms (acrónimo del inglés international commercial terms, ‘términos internacionales de comercio’) son normas acerca de las condiciones de entrega de las mercancías. Se usan para dividir los costes de las… …   Wikipedia Español

  • Comercio internacional — Se define como comercio internacional o mundial, al intercambio de bienes, productos y servicios entre dos o más países o regiones económicas. Las economías que participan del comercio exterior se denominan economías abiertas. Este proceso de… …   Wikipedia Español

  • Incoterms — (International Commercial Terms, deutsch: Internationale Handelsklauseln) sind eine Reihe von freiwilligen Regeln zur Auslegung handelsüblicher Vertragsformeln im internationalen Warenhandel. Inhaltsverzeichnis 1 Einzelheiten 2 Zusammenfassende… …   Deutsch Wikipedia