Incoterms® (International Commercial Terms) are international terms of trade that govern the responsibilities of the parties to a contract when importing and exporting goods. Incoterms® are published by the International Chamber of Commerce (ICC). The first Incoterms® rules were introduced in 1936. Ever since, the ICC maintains and develops the rules, the latest publication being Incoterms® 2020. Scope and Limitations of Incoterms Incoterms® enjoy worldwide acceptance a
