Posted on July 31, 2008

Incoterms are used in the freight industry to determine how the functions, costs and risks of an international transport movement are split between shipper and consignee.  The current edition is 2000, and is undergoing a review to ensure that it is still useful and appropriate. There was a meeting in May in which the drafting group summarised comments from all the national committees.  The general opinion was that any problems arose from misunderstanding or misuse, rather than from any flaw in the terms themselves.  

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