What are Incoterms® rules?
The Incoterms® rules are the world’s essential terms of trade 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. The Incoterms® rules provide specific guidance to individuals participating in the import and export of global trade on a daily basis.
Who publishes the Incoterms® rules?
Since its founding in 1919, ICC has been committed to the facilitation of international trade.
Different practices and legal interpretations between traders around the world necessitated a common set of rules and guidelines. As a response, ICC published the first Incoterms® rules in 1936. We have been maintaining and developing them ever since.
As ICC celebrates its Centenary in 2019, the world business organization is pleased to announce the publication of Incoterms® 2020. The newest edition of the Incoterms® rules will help prepare business for the next century of global trade.