ICC Incoterms® 2020
ICC Incoterms® rules define the responsibilities of buyers and sellers for the delivery of goods under sales contracts. They are the authoritative rules for determining how costs and risks are allocated to the parties.
Why should the 2020 version be used?
- Updated rulebook to keep pace with the ever-changing global trade landscape.
- Clear regulation of mutual contractual obligations.
- Enables clarity in contracts.
- No more misunderstandings.
- Avoidance of costly disputes and litigation.
- Recognised by UNCITRAL as the global standard.
Who are they for?
ICC Incoterms® are relevant for everyone dealing with sales contracts and the movement of goods including UK goods traders (exporters and importers) logistics companies, trade financiers, insurers, shippers, freight forwarders, law firms, consultants and advisors.