Incoterms
Incoterms rules are a set of eleven three-letter trade terms that allocate the tasks, costs and risks of delivering goods between seller and buyer in
Official source: Incoterms® rules - ICC - International Chamber of Commerce →
international and domestic sales contracts. First published in 1936 and recognised by UNCITRAL as the global standard for interpreting the most common terms of foreign trade, they exist to prevent costly misunderstandings over who arranges and pays for what in the journey from seller to buyer. The current edition, Incoterms 2020, entered into force on 1 January 2020 and takes account of the latest developments in commercial practice.
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