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GW Law Library
Research Guides

International Business Transactions

Introduction

International commercial terms provide the rules for the delivery terms (such as F.O.B. and C.I.F.)  used in a contract for the sale of goods. The written formulation of the industry understanding of the meaning of these terms in international practice can be found in Incoterms, published by the International Chamber of Commerce. "Incoterms" is an acronym for "International Commercial Terms" which was first published in 1936. Incoterms 2010 is the latest iteration of this important document.