Incoterms 2000

Incoterms define the responsibilities of buyer and seller for delivery of goods under sales contracts.  Incoterms 2000 is the authoritative text for determining how costs and risks are allocated to the parties.  These terms are regularly incorporated into sales contracts worldwide and have become part of the daily language of trade. 

Incoterms 2000 contains the official ICC text of the thirteen trading terms taking  into account the latest development in commercial practice.  In addition, Incoterms 2000 contains important innovations in format and substance.  For example:

• The Introduction has been redrafted to be more precise, particularly on questions of transport, insurance and electronic commerce.
• The 10 obligations of seller and buyer have new and improved headings that clarify the responsibilities of the parties.
• The definitions of each Incoterm have been redrafted for consistency.
• Where, when and how the parties should act with respect to the delivery point are clearly delineated.
• The loading and unloading obligations of the parties are more clearly specified.
• The issues surrounding custom clearance have been given new emphasis.
• The delivery obligations under FCA have been shortened to provide a general rule for delivery under this important trade term.
• Efforts have been made to discourage variants by making the contents of existing terms more comprehensive.