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http://en.wikipedia.org/wiki/Incoterms
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tasks, costs, and risks associated with the transportation andPLEASE delivery of goods. HELP The Incoterms rules are accepted by governments, legal authorities, and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries. As such they are regularly incorporated into sales contracts[1] worldwide. First published in 1936, the Incoterms rules have been periodically updated, with the eighth versionIncoterms 2010having been published on January 1, 2011. "Incoterms" is a registered trademark of the ICC.
Contents
1 History 2 Incoterms 2010 2.1 Any mode of transport 2.1.1 EXW Ex Works (named place of delivery) 2.1.2 FCA Free Carrier (named place of delivery) 2.1.3 CPT Carriage Paid To (named place of destination) 2.1.4 CIP Carriage and Insurance Paid to (named place of destination) 2.1.5 DAT Delivered at Terminal (named terminal at port or place of destination) 2.1.6 DAP Delivered at Place (named place of destination) 2.1.7 DDP Delivered Duty Paid (named place of destination) 2.2 Sea and inland waterway transport 2.2.1 FAS Free Alongside Ship (named port of shipment) 2.2.2 FOB Free on Board (named port of shipment) 2.2.3 CFR Cost and Freight (named port of destination) 2.2.4 CIF Cost, Insurance and Freight (named port of destination) 3 Allocations of costs buyer/seller according to Incoterms 2010 4 Previous terms from Incoterms 2000 eliminated from Incoterms 2010 4.1 DAF Delivered at Frontier (named place of delivery) 4.2 DES Delivered Ex Ship (named port of delivery) 4.3 DEQ Delivered Ex Quay (named port of delivery) 4.4 DDU Delivered Duty Unpaid (named place of destination) 5 See also 6 References 7 External links
History
The Incoterms rules genesis can be traced to 1921, with the formation of the idea by the International Chamber of Commerce.[2] In 1936, the first set of the Incoterms rules was published.[3] The first set remained in use for almost 20 years, before the second publication in 1953. Additional amendments and expansions followed in 1967, 1976, 1980, 1990, and 2000. The 8th and current version of the Incoterms rulesIncoterms 2010was published on January 1, 2011.[4][5][6]
Incoterms 2010
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The eighth published set of pre-defined terms, Incoterms 2010 defines 11 rules, reducing the 13 used in Incoterms 2000 by introducing two new rules ("Delivered at Terminal", DAT; "Delivered at Place", DAP) that replace four rules of the prior version ("Delivered at Frontier", DAF; "Delivered Ex Ship", DES; "Delivered Ex Quay", DEQ; "Delivered Duty Unpaid", DDU).[7] In the prior version, the rules were divided into four categories, but the 11 pre-defined terms of Incoterms 2010 are subdivided into two categories based only on method of delivery. The larger group of seven rules applies regardless of the method of transport, with the smaller group of four being applicable only to sales that solely involve transportation over water.
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buyer.
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See also
Commercial law International trade International trade law Uniform Commercial Code United Nations Convention on Contracts for the International Sale of Goods
References
1. ^ "ICC Guide to Incoterms 2010" (http://www.iccbooks.com/Product/ProductInfo.aspx?id=657) . ICC. http://www.iccbooks.com /Product/ProductInfo.aspx?id=657. Retrieved January 29, 2013. 2. ^ "History of the Incoterms rules" (http://www.iccwbo.org/incoterms_history/) . ICC. http://www.iccwbo.org/incoterms_history/. Retrieved May 16, 2011. 3. ^ Morrissey, Joseph F.; Jack M. Graves (March 2008). International Sales Law and Arbitration: problems, cases and commentary. Kluwer Law International. p. 148. ISBN 978-90-411-2654-2. 4. ^ Economic Times: ICC updates Incoterms (http://economictimes.indiatimes.com/news/international-business/ICC-updates-Incoterms /articleshow/6632863.cms) (September 27, 2010) 5. ^ "Incoterms" (http://www.iccwbo.org/incoterms) . Iccwbo.org. January 1, 2011. http://www.iccwbo.org/incoterms. Retrieved April 5, 2011. 6. ^ Pierre David, Richard Stewart (2010). International Logistics: the management of international trade operations (3rd ed.). Cengage Learning. p. 113. 7. ^ "From the introduction of Incoterms 2010" (http://www.iccwbo.org/Incoterms/index.html?id=40772) . ICC. http://www.iccwbo.org /Incoterms/index.html?id=40772. Retrieved May 16, 2011.
External links
Official website (http://www.iccwbo.org/incoterms/) ICC Incoterms(R) 2010 (http://www.iccbooks.com/Product/ProductInfo.aspx?id=653) ICCBooks USA Incoterms (http://www.uscib.org/index.asp?DocumentID=4070) International Commercial Terms used in Export Import (http://www.comxport.com/dic/incoterms_eng.htm) Comxport Trade
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Data Retrieved from "http://en.wikipedia.org/w/index.php?title=Incoterms&oldid=542216825" Categories: International trade Commercial item transport and distribution International commerce terms This page was last modified on 5 March 2013 at 15:13. Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. See Terms of Use for details. Wikipedia is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
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