Incoterms provide standard trade definitions commonly used in international sales contracts. Devised and published by the International Chamber of Commerce (ICC), Incoterms are accepted by governments, legal authorities and practitioners worldwide. Incoterms cut out uncertainties arising from differing interpretations of transportation terms in different countries, and go a long way towards providing the legal certainty upon which mutual confidence between business partners must be based.
Each Incoterm is referred to by a three-letter abbreviation. Some of the main ones used in our industry are defined in our Incoterms flyer.
To ensure you are using Incoterms correctly, please consult the full ICC texts, available at: www.incoterms.com