What are Incoterms® rules?
The Incoterms® rules are the essential terms of trade that buyer and seller of goods both agree to for the sale of goods. Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you. Understanding the Incoterms® rules is a vital part of International Trade because it provide specific guidance to which tasks, costs and risks are associated with the buyer and the seller.
More information about INCOTERMS® 2020 is available at the International Chamber of Commerce (ICC) website.