Incoterms rules are the language of international trade that outlines the responsibilities of sellers and buyers for the delivery of goods under sales contracts. The Incoterms rules are updated every 10 years by the International Chamber of Commerce to keep pace with the global trade landscape. Despite the well-established practice of using the Incoterms rules, many still do not apply them correctly. Applying the wrong Incoterms rules could result in delivery and payment problems, with operational and financial implications to companies. Incoterms 2020 brought changes that have been effective since 1 January 2020.
- What are Incoterms rules intended for?
- What the Incoterms rules do
- What the Incoterms rules don't do
- How best to incorporate the Incoterms rules
- Rules for the contract of sale and their relationship to other contracts
- The 11 Incoterms 2020 rules
- "Sea and inland waterway" and "any mode of transport" - getting it right
- Order within the Incoterms 2020 rules
- Differences between Incoterms 2010 and Incoterms 2020
- Caution with variants of Incoterms 2020
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