Incoterms
Incoterms are a set of standardized trade terms published by the International Chamber of Commerce (ICC) that are commonly used in international commercial transactions. These terms define the responsibilities and obligations of buyers and sellers in terms of the delivery of goods, transfer of risk, and payment of freight and other charges. Incoterms are used to avoid misunderstandings and disputes between parties involved in international trade, and they are recognized and accepted worldwide. The current version of Incoterms is Incoterms 2020, which includes 11 terms that are grouped into two categories: those that can be used for any mode of transport and those that are specifically for sea and inland waterway transport.
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