Incotermsidele

Incoterms are a series of predefined commercial terms used in international trade to define the responsibilities and risks associated with the sale of goods between a buyer and a seller. These terms are established by the International Chamber of Commerce (ICC) and are widely recognized and used in global trade. The term "Incoterms" is a contraction of "International Commercial Terms."

Incoterms are designed to provide clarity and predictability in international trade transactions by specifying the point at which the risks and responsibilities of the sale of goods pass from the seller to the buyer. There are 11 Incoterms, each with its own set of rules and responsibilities. These terms are used to facilitate trade by reducing the need for lengthy negotiations and by providing a common language for parties involved in international trade.

The Incoterms are updated periodically to reflect changes in trade practices and to address new challenges in international trade. The most recent version of the Incoterms, known as Incoterms 2020, was published in 2020 and replaced the previous version, Incoterms 2010. The updates include new terms and revisions to existing terms to better address the needs of modern trade.

Incoterms are used in various types of international trade, including the sale of goods, the provision of services, and the transfer of technology. They are applicable to all modes of transport and can be used in any country. The use of Incoterms is voluntary, but their adoption is encouraged by many international trade organizations and governments to promote fair and transparent trade practices.

In summary, Incoterms are a set of standardized commercial terms used in international trade to define the responsibilities and risks associated with the sale of goods. They are established by the ICC and are widely recognized and used in global trade. The Incoterms are designed to provide clarity and predictability in international trade transactions and to facilitate trade by reducing the need for lengthy negotiations.