International Commercial Contracts - Incoterms



This guide explains the basic principles of International Commercial Terms (Incoterms), and how traders can use them in buyer or seller contracts to make clear who is responsible for the goods at each point of the transport process. The guide also explains the benefits of using Incoterms and what each Incoterm means for the buyer and seller, as well as offering sources of further help and advice for traders.

The latest set of Incoterms, known as Incoterms 2020, came into force on 1 January 2020.

This guide explains what Incoterms are, Incoterms and contracts and Incoterms and VAT.