Buying and selling goods in the international trade system can often be complicated with responsibilities, cost and risk to all parties needing to be determined.
To help you in the import and export of trade, the International Chamber of Commerce (ICC) introduced the International Commercial Terms (Incoterms®), which act as the world’s essential terms of trade for the sale of goods. Whether you are completing a purchase order, packaging and labelling a shipment, or preparing a certificate of origin, these regulations have become part of our daily language of trade and are there to guide you.
Since the first publication of the rules in 1936, the ICC has been maintaining and developing
them ever since.
To help prepare businesses for the next century of global trade, the newest edition, Incoterms® 2020, came into effect on 1 January 2020 and should be referenced going forward.
The Incoterms® rules feature a series of three-letter trade terms which all have very precise meanings for the sale of goods around the world.
