Book recommendation

Incoterms for Americans

Frank Reynolds, International Projects Inc
Cost: US $60
ISBN: 978-1-886457-11-9    145 pages

Frank Reynolds represented the US on the ICC Incoterms 2010 revision working panel, and has instructed and written on trade topics for more than 25 years.

The layout and organisation of the book clearly reflects Mr Reynold’s extensive experience in explaining key Incoterms ideas to newcomers. Thus the “basic concepts” section includes definitions of transport-related terms such as “pre-carriage” and “on-carriage” that are not found in the rules themselves, but which are very helpful in understanding their underlying logic.

The “basic concepts” section contains numerous examples of pro forma invoices etc, and an invaluable chapter entitled “Hoops, hurdles and contracts”

The largest section of the book is a set of commentaries on each of the eleven rules – each runs to several pages, and includes both illustrative business scenarios and examples of what key documents might look like. The coverage of each rule also includes a substantial section entitled “The American viewpoint”.

The American perspective is addressed in more detail in a separate chapter. The final chapter, entitled “How Incoterms rules relate to everything else”, deals with topics such as how to the rules can be aligned with use of secure terms payment methods such as letters of credit and collections.

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