VJ Home: Archive: Abstract Article (1999) 3 VJ 1, 61-70 The International Chamber of Commerce INCOTERMS 1990: A Guide to the Terms and their Usage Henry Gabriel* Because of the long standing practice of standardized shipping terms to denote the extent of the parties' contractual obligations under the agreement as well as denoting the allocation of risk of loss between the parties, lawyers engaged in international commercial transactions need to have a ready familiarity with standardized shipping terms. The common international practice of utilizing the Incoterms, either expressly or by implication, in the international sale of goods makes knowledge of these terms essential for the international commercial practitioner. This article is intended to help practitioners achieve this goal. * DeVan Daggett Professor of Law, Loyola University, New Orleans (United States)