Incoterms® (International Commercial Terms) are a set of rules that are internationally recognised and used worldwide in national and international contracts for the sale of goods.
The purpose of Incoterms® is to define the responsibility of buyers and sellers at the time of delivery of the product, according to the sales contract. The terms determine the costs and risks of the parties.
First published in 1936, Incoterms® have been assisting importers, exporters, lawyers, carriers, insurers and graduates in the international field for more than 75 years. They are recognized by UNCITRAL as the global standard for the interpretation of the most common terms in international trade.
Updated every 10 years, the latest version called Incoterms®2020, came into force on January 1, 2020. All contracts made under the Incoterms® 2010 rules remain valid after 2020.
APP Incoterms®
In addition to the set of official rules, ICC has also launched a mobile app for Incoterms® 2020, which presents a summary of the content in a quick and easy-to-understand way.