“Incoterm” is an abbreviation of International Commercial Terms. Incoterm is a term of the contract of sale (not contract of carriage).

Trade Terms are the key elements of International contracts of sale; since they tell the parties what to do (responsibilites) with respect to:
 carriage of the goods from seller to buyer, and
 export and import clearance.
They also explain the division of cost and risk between the parties

Incoterms do not deal with:
 transfer of property rights in goods;
 relief from obligations and exemptions from liability in case of unexpected or unforeseeable events; or
 consequences of various breaches of contract, except those relating to the passing of
risks and costs when the buyer is in breach of his obligation to accept the goods.

The latest version of the Incoterms is the 2000 revision, which covers 13 different delivery terms. These range from “Ex Works”, in which the exporter carries the least cost, risk and responsibility, to “Delivered Duty Paid”, in which the exporter carries the most cost, risk and responsibility.

For export quality watersport items CLICK HERE