What does Incoterms® stand for?
"Incoterms®” is an acronym standing for international commercial terms. It is a trademark of International Chamber of Commerce, which is registered in several countries.
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.
Why use Incoterms® rules in international trade?
Although other clauses for global trade exist around the world, Incoterms® rules are global in their reach. The rules are universal, providing clarity and predictability to business.