Incoterms® reference

Incoterms are the official International Chamber of Commerce (ICC) rules for the interpretation of trade terms. They provide a precise definition of the responsibilities of the buyer and seller at all stages of the movement of goods.  Incoterms define a point in the journey at which risk for damage or loss of the goods passes from the seller to the buyer; along who must arrange and pay for various costs such as transport, loading and unloading, customs clearance at the ports of export and import, insurance and other services.  Incoterms are internationally recognised contractual terms.