"This is the city. They call it the steel city. I tell you, mister, it's a tough part of the country where people put in a good day's work, every day. I work here. I carry a license, a Broker's license. I'm Joe Saturday."

Ladies and Gentlemen, the story you are about to read is true. The names have been changed to protect the innocent.

"It's 2:45 PM. The day is cold and bright. I'm southbound on Eastport Drive to avoid slippery conditions on the Skyway. I just left the offices of Electronics Inc. The President, Ida Kensington was excited about their first order to sell USD $19,000 of electronic equipment to a purchaser in the Middle East. It seemed a straightforward case. Find out the costs to ship the equipment to the Middle East. My first question, 'What Incoterm did you quote?' was met by a blank look. 'What is an Incoterm?' queried Ida Kensington."

"I advised her that Incoterms are International Commercial terms. Incoterms are important to international trade because they are well-defined terms, which specify the risks and costs for the seller and for the buyer. The International Chamber of Commerce supports Incoterms."

"Ida Kensington's elation faded as she advised that she did not quote any Incoterm. What if the buyer assumed that Electronics Inc. was paying the freight and other charges? She would take a loss on the sale or else she would have to decline the order. It looked like a case of a missing Incoterm."

"It's my job to get the facts about the shipping and related costs, just the facts. My team of keen investigators and I began to review the files. Exports to the Middle East require documents certified by a local chamber of commerce and legalized by the Middle Eastern consulate in New York City. The Middle Eastern consulate charges a consular fee for legalizing the documents. A consular fee is like an import tax applied before the goods even leave Canada. The total costs of shipping, insurance, consular fees and related charges was USD $5000.00."

"Returning to Electronics Inc., Ida Kensington and I review the facts. Together we contact the Middle Eastern purchaser, 'Under which Incoterm did you purchase?' The purchaser replies, 'Ex-Works'. I advise an ecstatic Ida that the purchaser is prepared to pay all the shipping, insurance, consular fees and related charges. 'By Joe, you found the missing Incoterm and saved our order,' enthuses Ida. 'Before we quote again, I'll be sure to obtain Publication Number 560 Incoterms 2000, published by the International Chamber of Commerce (ICC), ICC Publishing Corporation, 156 Fifth Avenue, New York, NY, 10010 United States of America."

"For me, it's just another happy client. I'm Joe Saturday, this is the city, I work here, I carry a license, a Broker's license. I'm off to another case."