INCOTERMS stands for “International commercial terms”. It’s the number of terms used in the field of imports and exports and is valid throughout the world. It defines uniquely and unmistakably every right and duty relevant to the various legal entities involved in a goods transfer from one country to another.
Every single codified abbreviation in Incoterms clearly defines who is to bear the costs and responsibilities for each part of the transport chain, customs charges at departure and arrival, insurance costs, etc…
After the abbreviation it is important to indicate the specific name of the geographic location, the border or the port/airport to which the abbreviation itself refers.
Incoterms have been ratified by the International Chamber of Commerce (ICC) and originally published in English with translation into 31 other languages approved by the various national chambers of commerce.
We provide on this page our full Synopsis Table of Incoterms.
