Incoterms 2020

About Incoterms 2020

The ICC Incoterms® Rules app is the only official tool from the International Chamber of Commerce (ICC) that brings together essential news, information and insight regarding the commercial trade terms in one, easy-to-access location.

The Incoterms® rules define important responsibilities of buyers and sellers for the delivery of goods under sales contracts and serve as authoritative rules for determining how costs and risks are allocated to parties.

KEY FEATURES:

• Browse descriptions of each of the 11 Incoterms® rules.
• Get information on which trade term to include in your sales contracts, depending on the mode of transport: air, rail, road, sea or a combination thereof.
• Connect with ICC’s global network of experts to get advice on the most pressing Incoterms® rules questions facing your enterprise.
• Discover events and specialised trainings taking place worldwide.
• Read comprehensive up-to-date news coverage.
• Shop added resources to help take your business global and expand growth
ICC’s core mission is to make business work for everyone, every day, everywhere. As the world’s largest business organization representing more than 45 million companies in over 100 countries, we draw on the expertise and experience of our global membership. ICC offers an extensive catalogue of voluntary rules, guidelines and codes, which facilitate cross-border transactions and help spread best business practice among companies.

ICC is the creator of the Incoterms® rules and continues to update the trade terms to keep pace with ever-changing trade landscape.

INCOTERMS® 2020, THE MOST CURRENT EDITION OF THE RULES, INCLUDES THE FOLLOWING 11 TERMS:

Rules for any mode or modes of transport:
• EXW: Ex Works
• FCA: Free Carrier
• CPT: Carriage Paid To
• CIP: Carriage and Insurance Paid To
• DAP: Delivered at Place
• DPU: Delivered at Place Unloaded
• 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