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International Commercial Terms (Incoterms) 2010


The International Commercial Terms or Incoterms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to International Commercial Law. They are widely used in international commercial transactions or procurement processes as the use in international sales is encouraged by trade councils, courts and international lawyers. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. Incoterms inform sales contract defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer.

You can access Incoterms 2010 here.

keywords : Commercial Contracts , ICC , International Chamber of Commerce , International Trade Law ,