Incoterms 2020 1.6

The ICC Incoterms® Rules app is the official tool from the International Chamber of Commerce (ICC) that consolidates crucial information on commercial trade terms in a user-friendly format. The Incoterms® rules play a vital role in outlining the responsibilities of buyers and sellers in sales contracts regarding the delivery of goods, as well as defining how costs and risks are distributed between parties.

KEY FEATURES:

• Browse detailed descriptions of each of the 11 Incoterms® rules.
• Access guidance on selecting the appropriate trade term for your sales contracts based on the mode of transport: air, rail, road, sea, or a combination thereof.
• Connect with ICC's global network of experts to seek advice on pertinent questions related to Incoterms® rules.
• Explore upcoming events and specialized training programs held worldwide.
• Stay informed with comprehensive and current news coverage.
• Access supplementary resources to enhance your business's global reach and foster growth.

The core mission of ICC is to promote business efficacy globally. Representing over 45 million companies across more than 100 countries, ICC leverages the knowledge and experience of its diverse membership. Through a wide array of voluntary rules, guidelines, and codes, ICC facilitates international transactions and promotes best business practices among enterprises.

As the creator of the Incoterms® rules, ICC continually updates these trade terms to align with the evolving trade landscape.

INCOTERMS® 2020, THE LATEST EDITION OF THE RULES, ENCOMPASSES THE FOLLOWING 11 TERMS:

Rules for any mode or modes of transport:

1. EXW: Ex Works
2. FCA: Free Carrier
3. CPT: Carriage Paid To
4. CIP: Carriage and Insurance Paid To
5. DAP: Delivered at Place
6. DPU: Delivered at Place Unloaded
7. DDP: Delivered Duty Paid

Rules for sea and inland waterway transport:

• FAS: Free Alongside Ship
• FOB: Free on Board
• CFR: Cost and Freight
• CIF: Cost Insurance and Freight