About INCOTERMS

Click on one of the Incoterms above to see more detailed information.

Incoterms are a set of international rules for the interpretation of the most commonly used trade terms. There are 11 main terms. These denote the points at which shipper, carrier and consignee risk and responsibility start and end.

This set of international rules was first published in 1936 known as "INCOTERMS 1936" by the International Chamber of Commerce. Incoterms are amended every 10 years.

Incoterms are recognized globally by courts and other authorities. Frequently, parties to a contract are unaware of the different trading practices in their respective countries. This lack of knowledge can lead to misunderstandings and disputes between customer and supplier. The incorporation of Incoterms in international sales contracts reduces this risk.