address details accounts agents availability container numbering dnv standard 2.7-1 enquiry form faq incoterms jargon buster payment terms quality statement Incoterms It is very important to be clear when arranging the release or shipment of cargo to be precise as to exactly what are the agreed terms. Whether you wish to sell at your factory, partly delivered, or delivered having paid taxation, making sure both parties know the terms of affreightment are crucial to the smooth running of the contract. One commonly used set of definitions has been created by the International Chamber of Commerce (ICC) to identify globally known and used standard trade rules and definitions. The rules have been developed and maintained by experts and practitioners brought together by ICC and have become the standard in international business rules setting. They help traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods from sellers to buyers. Incoterms® rules are recognized by UNCITRAL as the global standard for the interpretation of the most common terms in foreign trade. Incoterms® rules have been revised with the previous version of Incoterms® 2000 being replaced as of January 1st, 2011 with Incoterms® 2010 rules. Full details of these revised standards can be found at www.iccwbo.org/Incoterms. Incoterms® is a registered trademark of the International Chamber of Commerce.