PREVIEW

Are you up on your Incoterms? Learn about additions to the collection of internationally standardized business terms used to avoid confusion in foreign trade. The terms will be discussed at a daylong conference today sponsored by the Foreign Trade Assn. of Southern California. Originated in 1936, International Commercial Terms, or Incoterms, are used to minimize misunderstandings between parties and eliminate faulty translations in trade documents. Examples include “DDU” for “Delivered Duty Unpaid” and “CPT” for “Carriage Paid To.” Recently updated, the glossary of Incoterms, revised previously in 1990, now contains entries reflecting the spread of customs-free zones, the increased use of electronic communications and changes in transport practices. For more information on the conference, contact (213) 627-0634, Ext. 204.