incoterm
Incoterm (in[g]-koh-t[schwa]rm). A standardized shipping term, defined by the International Chamber of Commerce, that apportions the costs and liabilities of international shipping between buyers and sellers. See EX WORKS; COST, INSURANCE, AND FREIGHT ; COST AND FREIGHT; COST, INSURANCE, AND FREIGHT; FREE ALONGSIDE SHIP ; FREE CARRIER; FREE ON BOARD. [Cases: Shipping 104. C.J.S. Shipping §§ 247–250, 252–254.]
