Incoterms define the responsibilities of buyer and seller for delivery of goods under sales contracts. They are 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,the first revision in ten years, contains the official ICC text of the thirteen trading terms. It takes into account the latest developments in commercial practice and modifies some the existing terms bringing them into line for use in the new millennium. Most sales contracts drafted after January 1, 2000, will make reference to this latest revision in the text of their contract.
Incoterms 2000 continues a 60-year tradition of the ICC and provides importers, exporters, lawyers, transporters, insurers and students in the international arena with a modern text reflecting the latest changes in the trading environment. This new edition contains a lively, updated format for ease-of-use and ease-of-reference.
Incoterms 2000 will be the definitive text for all those engaged in international trade and commerce in the 21st century.
For American exporters/importers I would definately recommend reading a supplementary book put out specifically for Americans. Incoterms are partially written with European countries in mind, so there are important considerations for countries with borders and exports laws similar to the USA. The best supplimentary book I've seen so far is "Incoterms for Americans" by Frank Reynolds, the USA representative to the Incoterms 2000 revision meeting. The 2000 version may not be officially out yet. I got it at a seminar.
