Incoterms 2000 is the latest version of ICC's standard trade definitions, commonly known as the INCO terms. The terms consist of 13 rules which are fundamental to international trade, defining the most important responsibilities of buyers and sellers in international sales contracts. Incoterms are a basic reference for sales contracts, recognised as the international standard by customs authorities and courts everywhere. Since they were first published in 1936, Incoterms - a trademarked ICC product - have been updated six times. For more information, see: www.iccwbo.org
Document which assures the consignee that insurance is provided to cover loss or damage to the cargo while in transit. A certificate issued by an insurer to a shipper (or other party) as evidence that a shipment of merchandise is covered under a marine policy.