Incoterms
Incoterms are a set of international commercial terms published by the International Chamber of Commerce. The current set is Incoterms 2000. In use world-wide, they have been in existence since 1936 and provide an invaluable tool to exporters and importers in determining where cost and risk pass in international transactions involving the movement of goods.
Wallcharts
Strong & Herd have produced an Incoterms 2000 wallchart in 3 sizes to help importers and exporters "see at a glance" the cost and risk responsibilities of the 13 terms. This colourful, hard wearing, laminated chart is available in a choice of 3 sizes for wall, desk or brief case (A3; A4; A5). see sample below.
| Wallchart | Price * |
Reference | |
| Wallchart - A4 (Includes VAT) |
£11.75 | (WC/A4) | Order |
| Wallchart - A3 (Includes VAT) |
£23.50 | (WC/A3) | Order |
| Wallchart - A5 (pack of 5) (Includes VAT) |
£29.38 | (WC/A5) | Order |
* Prices include VAT.
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Top errors by exporters in the use of incoterms
- Using a sea freight term like FOB or CIF when consigning goods by air freight or road;
- Doing more under the term than required, e.g. loading under "ExWorks";
- Not including all the relevant costs covered by the Incoterm.
- Not protected when things go wrong because the "term" quoted has never been reviewed against the legal issues.
Top errors by importers in the use of incoterms:
- Failure to realise the best option for them, i.e. an unreliable supplier can be controlled under "ExWorks" or "FCA..." terms;
- Ambiguous "delivery points", e.g. CFR mentioned but the port not named;
- Missing the opportunity to assess what the supplier has included in the transportation price by asking for an "ExWorks" price to compare with a DDU (delivered) price.
- Unaware that the transit risk is theirs (the buyer's) under CIF and CIP.









