Why do Incoterms need revising periodically?
As the guardian and originator of Incoterms, ICC has a responsibility to consult regularly all parties interested in international trade to keep Incoterms relevant, efficient and up-to-date. It is also translated into 31 laguages. This is a long and costly process for ICC, which is a non-governmental, self-financed organization. The work is financed out of sales of Incoterms 2000 and related publications, which are protected by copyright. What are the 13 Incoterms? Each Incoterm is referred to by a three-letter abbreviation. Here is a complete list, with the meanings spelled out. Click on any of the 13 terms listed below and read a concise definition from the read-only format of the Preambles to Incoterms 2000. The Preambles do not spell out the obligations of buyer and seller, which are essential to correct use of Incoterms. This information may be obtained by consulting the full published texts of the 13 Incoterms, available only from ICC Publishing. EXW EX WORKS (named place) FCA FR
