We are pleased to inform you that the international Chamber of Commerce (ICC) has launched a website devoted exclusively to Incoterms 2000, the 13 standard trade definitions most commonly used in international contracts: EXW, FCS, FAS, FOB, CFR, CIF, CPT, CIP, DAF, DES, DEQ, DOU, DDP. Click on www.incoterms.org for basic information and background to the Incoterms, to learn how each Incoterm works, to view the handy Incoterms Wall Chart, and to consult FAQs.

The ICC site also reproduces the 13 Preambles, concise descriptions that explain the purpose of each Incoterm. The Preambles, however, do not spell out the obligations of buyer and seller, which are essential to the correct use of Incoterms. This information is only available from the full text of ICC No. 560, Incoterms 2000, or, ICC No. 620, ICC Guide to Incoterms 2000, which may be ordered online from ICC Publishing (www.iccbooks.com) and ICC national committees around the world.

Correct use of Incoterms goes a long way to providing the legal certainty upon which mutual confidence between business partners must be based. To be sure of using them correctly, trade practitioners need to consult the official ICC texts and to beware of the many unauthorized summaries and approximate versions that abound on the web.