The Incoterms are the international commercial terms made by the International Chamber of Commerce (ICC) that is used in international commercial trading or procurement processes. The last revision (1999) is named INCOTERMS 2000, and a new revision of Incoterms, to be called Incoterms 2020. (e.g., Ex-Work; FOB (Free on Board); FAS (Free Alongside Ship); C&F (Cost & Freight); CIF (Cost, Insurance & Freight); DAP (Delivered At Place (named place of destination)), etc.)

Related Definitions in the Project: The Procurement; Logistics Management; Project Management; Supply Chain Management