The document provides an overview of Incoterms, the international commercial terms used in contracts for the sale of goods. It defines 11 Incoterms and explains the obligations and risks transferred between buyer and seller under each term. The terms are grouped into four categories based on how far the seller's responsibility reaches: EXW - FCA terms cover delivery at the seller's premises or point of loading; FAS - FOB terms cover delivery on board a vessel; CFR - CIF terms cover delivery to a destination port; and CPT - DDP terms cover delivery to a destination point.