Trade terms used worldwide to specify seller and buyer obligations in shipments against international sales contracts. These terms are adopted by the International Chamber of Commerce (ICC) for international movement of merchandise. Since they in themselves are not law, they must be specified if desired in quotations, sales contracts, purchase orders and commercial invoices.
Nearby TermsIncorporated joint venture Incorporation Incoterms Incremental cash flows Incremental cost of capital
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University