Incoterms®️

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Incoterms®2020 Rules

The Incoterms®2020 rules* explain a set of trade terms reflecting business-to-business practice in contracts for the sale of goods. They describe mainly the tasks, costs and risks involved in the delivery of goods. Incoterms® have traditionally been used in international sale contracts where goods pass across national borders, but they may be applied to both international and domestic sale contracts.

* 'Incoterms' is a registered trademark of the International Chamber of Commerce

The benefit of incorporating Incoterms® is that they are internationally recognised and deal with provisions which are key in international supply agreements such as the allocation of costs, risk, delivery, insurance and other arrangements. This subtopic contains Practice Notes providing guidance on the various Incoterms®2020

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