International Commercial Terms (INCOTERMS) for short. Incoterms were first published in 1936. These 11 trade terms explain the responsibility that each trade subject should undertake in international trade practice.

Why are Incoterms so important?

Because they have become familiar and recognized by people from different cultures and regions around the world, from the bustling city of Austin to the remote island of Zanzibar, these terms are used in a wide range of ways. Incoterms ensure the consistency of relevant information on commercial invoices, and to a great extent reduce the potential risk of transaction misunderstanding and the loss caused by it.

What do incoterms cover?

Incoterms cover all tasks, risks and costs involved in the sale of goods from the seller to the buyer.