Commonly Used Terms
Incoterms
The International Chamber of Commerce has divided Incoterms® under 11 heads. International Commercial Terms – commonly known as Incoterms® - are published by the International Chamber of Commerce (ICC). The latest version was adopted on 1st January 2020. The ICC first published the Incoterms® in 1936 and has since updated it at regular intervals to reflect the changes in global trade ecosystem.
International trade involves transactions between territories that have different rules and regulations. Incoterms® are accepted by governments and regulatory authorities around the world. Parties involved in trade use Incoterms® to decide who bears the cost and when the risk gets transferred from seller to buyer.
The ICC has listed down the following Incoterms -
Incoterms applicable to any mode of transportation:
1. EXW (Ex Works)
2. FCA (Free Carrier)
3. CPT (Carriage Paid To)
4. CIP (Carriage and Insurance Paid To)
5. DPU (Delivered at Place - Unloaded)
6. DAP (Delivered at Place)
7. DDP (Delivered Duty Paid)
Incoterms applicable for Sea and Inland Water transportation:
1. FOB (Free on Board)
2. FAS (Free Alongside Ship)
3. CFR (Cost and Freight)
4. CIF (Cost Insurance and Freight)
A
Average Payment Period (for materials)
Average Inventory
Average Cost per Unit
Accounts Payable
Available to Sell (ATS)
Available to Promise (ATP)
Available Inventory
Automatic Rescheduling
Automatic Relief
Automated Storage-Retrieval System (AS-RS)
Automated Manifest System (AMS)
Automated Guiding Vehicle System (AGVS)
Automated Commercial Environment (ACE)
Automated Clearing House (ACH)
Automated Call Distribution
Automated Broker Interface (ABI)
Auditing
Audit Trail
Audit Ability
Audit
Attributes
Attachment
Assumed Receipt
Association of American Railroads
Assignment
Assemble-to-order
Arrival Notice
Approved Vendor List (AVL)
Appraisal Costs
Any Quantity Rate (AQ)
Anticipation Inventories
Anticipated Delay Report
Anti-Dumping Duty
ANSI Standard
Amtrak
American Waterways Operators
American Trucking Association (ATA)
American Standard Code for Information Interchange
American Society of Transportation & Logistics
American Society for Training and Development (ASTD)
American Society for Testing and Materials (ASTM)
American Society for Quality (ASQ)
American National Standards Institute (ANSI)
American Customer Satisfaction Index (ACSI)
Alternate Routing
Alpha Release
Allocation
Allocated Item
All Risks
All Cargo Carrier
Alaskan Carrier
Airport and Airway Trust Fund
Airline Terminal Fee (ATF)
Air Waybill
Air Transport Association of America
Air Taxi
Air Cargo Containers
Air Cargo
Agility
Agile Manufacturing
Aggregate Tender Rate
Aggregate Planning
Aggregate Plan
Aggregate Inventory Management
Aggregate Inventory
Aggregate Forecast
Agglomeration
Agent
Agency Tariff
After Sale Service
Advanced Shipping Notice
Advanced Planning and Scheduling (APS)
Advance Material Request
Adaptive Smoothing
Adaptive Control
Actual to Theoretical Cycle Time
Actual Demand
Actual Cost System
Actual Cost
Activity Ratio
Activity Network Diagram
Activity Level
Activity Driver
Activity Dictionary
Activity Based Planning (ABP)
Activity Based Management (ABM)
Activity Based Costing System
Activity Based Costing Model
Activity Based Costing (ABC)
Activity Based Budgeting (ABB)
Activity Analysis
Activity
Active Inventory
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C
Currency Adjustment Factor (CAF)
Cross-docking
Cost, Insurance and Freight (CIF)
Cost and Freight (CFR)
Contract of Carriage
Container Yard (CY)
Completely Knocked Down (CKD)
Certificate of Origin (CO)
Cellular Vessel
Carriers
Carrier's Lien
Carriage Paid To (CPT)
Carriage And Insurance Paid To (CIP)
Carnet
Cargo Agents Settlement System (CASS)