what does it means inco terms in shipping?

Answer 1

INCO codes are the terms and codes that are usually used in international shipment/transportation.

The most commonly used rules for the interpretation of trading terms in international trade are those defined by the International Chamber of Commerce (ICC). They are internationally recognized and are known as Inco terms. Inco terms signify to the buyer what is, and more importantly what is not, included in the selling price. They also indicate where the exporter's responsibility ends and the importer’s responsibility begins in respect of the goods exported. Which term will apply to a particular export transaction is a matter for negotiation between buyer and seller. However, inclusion of the appropriate term in export quotations is crucial in order to determine the responsibilities of both parties in the contract of sale.

Answer 2

Incoterms are standard trade definitions most commonly used in international sales contracts. Devised and published by the International Chamber of Commerce, they are at the heart of world trade.

ICC introduced the first version of Incoterms - short for "International Commercial Terms" - in 1936. Since then, ICC expert lawyers and trade practitioners have updated them six times to keep pace with the development of international trade. Common ones in use are CIF, FOB, etc

For a list of the incoterms, click on the 2nd link

Answer 3

It means how the price is quoted or delivered to the customer...

DDP - Delivered Duty Paid (the the customers warehouse)
CIF - cost, insurance and freight (pick up at the US port. not cleared by customs)
FOB - free on board - buyer is responsible for moving the freight and cost of moving.

Is there a specific term you are looking at?