1. Incoterms of International Business
IN – International
Co – Commercial
Terms – Terminology
INCOTERMS is very important those who doing business in internationally. Incoterms were first
developed by ICC (International Chamber of Commerce) in Paris France. Incoterms was first
developed in 1939. It defines the trade contract, responsibilities and liabilities between buyer and
seller. It is invaluable and cost saving tool. The importer and exporter need not go under lengthy
negotiation about a condition of each transaction after that revised version published in 2000 and
2002.
Terms of International Trade.
1. FOB – Free on Board
2. CFR – Cost and Freight
3. C&F – Clearing and Forwarding
4. CIF – Cost Insurance and Freight
5. CM – Cost of Manufacturing
6. CMT – Cost of Manufacturing and Trim
7. FCL – Full Container Load.
8. LCL – Less Container Load.
9. DAT – Delivery and Terminal.
10. DAP – Delivery and Port.
11. CFS – Container Freight Station.
12. FOA – Free on Air
13. DDU – Delivery Duty Unpaid.
14. POD – Port of Discharge.
15. POD – Proof of Delivery.
16. POL – Port of Landing.
17. POL – Port of Loading.
18. ETA – Estimate Time of Arrival.
19. ETD – Estimate Time of Departure.
20. GSP – Generalized System of Preferences.
21. MAWB – Master Air Way Bill.
22. HAWB – House Air Way Bill.
23. FFU – Forty Fit Equivalent
24. TFU – Twenty Fit Equivalent
25. PC – Pont Cash.
26. CO – Country of Origin
27. GOH – Garments on Hanger.
