INCOTERMS - International Commercial Terms

The Incoterms rules are an internationally recognized standard and are used worldwide international and domestic contracts for the sale of goods. First published in 1936, Incoterms rules provide internationally accepted definitions and rules of interpretation for most common commercial terms.

The rules have been developed and maintained by experts and practitioners brought together by ICC and have become the standard international business rules setting. They help traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods from sellers to buyers Incoterms rules are recognized by UNCITRAL as the global standard for the interpretation of the most common terms in foreign trade.