Incotermnoun [ C ]
also INCOTERM, INCO term, incoterm uk/ˈɪnkəʊtɜːm/usCOMMERCE an expression from a list made by the International Chamber of Commerce that is used in the trade of goods from one country to another:
As an importer, you have to understand the costs, responsibilities, rights, and obligations that accompany the use of a specific INCOTERM.