Incoterms® 2020

15/02/2022

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.

 

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