Incoterms are International Commercial terms which are used in international trade. These terms are very important , both in international trade and for the studetns of International Trade Finance and Forex Operations - JAIBP.
In the institute of Bankers exams winter 2009 we got a complete question on Incoterms. That question contained 10 marks and we had to write thirteen incoterms and the groups in which they are categorized.
Here, I will recommend you to visit the incoterms page of wikipedia http://en.wikipedia.org/wiki/Incoterms to which I am very thankful. Its a very well written page and contains very detailed information. This also shows the diagram explaining how costs are shared as per a certain incoterm.
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