Legal encyclopedia. The letter AND

"INCOTERMS"

- international rules for the interpretation of commercial terms and expressions, often found in foreign trade contracts, issued by the International Chamber of Commerce.

These terms denote trading conditions that are associated with the loading, transportation, unloading and insurance of goods.

I. defines:

1) the rights and obligations of exporters and importers concerning payments for the delivery of goods;

2) the division of risk, responsibility between the buyer and the seller;

3) provision of export and import licenses;

4) clarification of the content and type of contractual documents;

5) determination of the term, type and conditions of insurance;

6) packing of the goods;

7) payment for "verification" operations, etc.

They were manufactured in 1936, 1953, 1967, 1976, 1980 and 1990. According to I. 1990, the basic conditions for the supply of goods are divided into:

1) "E" (Ex works) - the seller is obliged to provide the goods at the place of their manufacture or storage;

2) "F" (FCA, FAS, FOB) - transportation of goods, distribution of costs associated with delivery and loading on the vehicle, which is indicated by the buyer;

3) "C" (CFR, CIF, CPT, CIP) - payment for transportation with or without insurance;

4) "D" - terms of delivery, which are related to the methods of transportation, risk, risk of unloading goods in the port. The basic conditions are optional.

The use of an IS depends on the consent of the parties to the contract. In the event that the conditions of the I. do not coincide with the terms of the contract, preference is given to the provisions,

Fixed in the contract.

When using AI in contracts, it is indicated which precise wording of the interpretation of the terms in question.