Incoterms® 2020
International commercial terms or well known as “Incoterms®” was first introduced by ICC in 1936 which caused a sensation in the international business world by bringing coherence to a commercial and judicial system that diverged widely from one country to another.
Since their inception, the Incoterms® rules have been developed and maintained by experts and practitioners around the world (lawyers, traders and company representatives) brought together by ICC. To keep pace with the ever-evolving global trade landscape, the latest update to the trade terms is currently in progress and revisions have been made to ensure that the wording of the Incoterms® rules clearly and accurately reflects present-day trade practices.
ICC not only as the originator & developer of the Incoterms® rules but also the international body that drafts and maintains the Incoterms® rules, there is no better place to learn about them than from the source. Correct use of the Incoterms® rules helps provide the legal certainty upon which mutual confidence between business partners must be based.
Who Should Join?
ICC Incoterms® are relevant for everyone dealing with sales contracts and the movement of goods including:
- Importers and exporters
- Consultants and advisers
- Mining and energy
- Logistics and transport companies
- Manufactures
- Trade financiers, insurers, Lawyers
- Cross industries players
- Etc.