Incoterms

Incoterms or international commercial terms are a series of international sales terms, published by International Chamber of Commerce (ICC) and widely used in international commercial transactions. They define monetary transaction and role responsibilities for both sides of the international trading buyer and seller transaction and reflect transportation practices. The purpose of standardized incoterms is to determine import/export clearance responsibilities, who owns the risk for the condition of the products at each stage in the transport process, and who is responsible for which payments. For ease of use we have included below a shortlist of the basic Incoterm definitions that you, the customer, should be familiar with. For a full list of Incoterms and specific details please see the ICC website.