A set of rules for the interpretation of the most commonly used trade terms in foreign trade, recognised throughout the world, issued by the International Chamber of Commerce. http://www.iccwbo.org/incoterms/id3040/index.html

The Incoterms, the internationally accepted and employed terms for contracts of sale, were first published by the International Chamber of Commerce (ICC) (supra) in 1936. They were revised in 1953 and reprinted in 1974, including two new terms that had been adopted in 1967, and again in 1976, 1980 and 1990. The latest revision, known as "Incot [..]