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Incoterms 2000

 

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Incoterms 2000

"Incoterm" are the official International Chamber of Commerce (ICC) rules for the interpretation of international trade terms that defines the respective roles of the buyer and seller in the arrangement of transportation and other responsibilities and clarify when the ownership of the goods takes place.

Incoterms 2000 should be incorporated into international sales contracts starting January 1, 2000. Incoterms 2000 have been revised for the new millennium in line with developments in commercial practice taking into account the increased use of intermodal transport. The new terms provide for the delivery of goods from seller to buyer at any point in the transport chain instead of concentrating as in the past on the moment the goods cross the ship's rail. Another significant advantage of Incoterms 2000 is that they clearly allocate the loading and unloading obligations of both buyer and seller

 

 

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