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Incoterms are a series of defined terms used in international trade. The International Chambers of Commerce (ICC) designed them in an attempt to establish a standardised language for buyers and sellers who are conducting international business.
The terms have not been universally accepted. For example, FOB and CIF are routinely (if improperly) used for airfreight consignments; C&F (Cost & Freight) is still widely used instead of CFR; and FIS (Free Into Store) is used instead of DDU or DDP. In the United States and Canada, FOB does not mean "Free on board a ship" as it does elsewhere - it can mean much the same as Ex-Works.
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