INCO Terms
INCOTerms were developed and published by The International Chamber of Commerce
INCO Terms were developed and published by The International Chamber of Commerce (ICC). ICC introduced the first version of Incoterms - short for "INternational COmmercial Terms" - in 1936. Since then, INCO Terms have been updated six times to keep pace with international trade developments.
Latest Edition of Incoterms is Dated 1 January 2000
The latest edition of Incoterms is dated 1 January 2000. The correct reference is to this latest version is "Incoterms 2000".
Incoterms are standard trade definitions
Incoterms are standard trade definitions which are commonly used in international sales contracts. Senrac Transportation Services uses Incoterms in its international forwarding contracts.
13 INCO Terms
Here is a brief explanation of the 13 INCO Terms:
EXW
FCA
FAS
FOB
CFR
CIF
CPT
CIP
DAF
DES
DEQ
DDU
DDP
| - EX WORKS (…named place)*
- FREE CARRIER (…named place)
- FREE ALONGSIDE SHIP (…named port of shipment)*
- FREE ON BOARD (…named port of shipment)
- COST AND FREIGHT (…named port of destination)
- COST, INSURANCE AND FREIGHT (…named port of destination)*
- CARRIAGE PAID TO (…named place of destination)
- CARRIAGE AND INSURANCE PAID TO (…named place of destination)*
- DELIVERED AT FRONTIER (…named place)*
- DELIVERED EX SHIP (…named port of destination)
- DELIVERED EX QUAY (…named port of destination)*
- DELIVERED DUTY UNPAID (…named place of destination)*
- DELIVERED DUTY PAID (…named place of destination)*
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For a more detailed explantion of the fucntion of each of the 13 Incoterms, click on the link below to the website for the International Chamber of Commerce:
Incoterms 2000
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 | Company News |
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April 2010 -
Senrac Transportation Services imports 9 x Cat off highway trucks with dimensions of 40' x 25'x 20' each weighing 267,869 lbs each from the Middle East to the USA totaling 5,163 Cubic Meters.
September 2010 -
Senrac Transportation Services office moves to a new 5,000 sq ft location in Humble, TX.
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