Incoterm
noun[C]
(alsoINCOTERM);(INCO term);(incoterm)uk/ˈɪnkəʊtɜːm/usCOMMERCE
anexpressionfrom alistmade by theInternationalChamber of Commerce that is used in thetradeofgoodsfrom onecountryto another:
As animporter, you have tounderstandthecosts,responsibilities,rights, andobligationsthataccompanythe use of aspecificINCOTERM.