INCOTERMS, acronym of “International Commercial Terms” is the list of terms used in the field of imports and exports, valid worldwide, which unambiguously and without the possibility of error defines any right and duty which is competent towards the various legal entities involved in a transfer of goods from one country to another.
Each individual acronym encoded in the Incoterms clearly defines who should bear the costs and responsibilities for each stage of transport, for customs fees at departure and arrival, for insurance costs and more.
An important part is the indication, after the acronym, of the specific name of the geographical location, the border, or the port/airport to which the acronym refers.
The Incoterms were ratified by the International Chamber of Commerce (ICC) and originally published in English with authorized translation into 31 other languages by the various national chambers of commerce.
On this page we provide our complete Synoptic Table of Incoterms.