Incoterms 2020

International Commercial Terms (Incoterms) are the international general rules for the responsibilities, risks, and expenses that both seller and buyer should bear in trade. The International Chamber of Commerce (ICC) formulated this regulation in 1936. The purpose is to establish a common guideline for international trade to avoid disputes or disputes caused by differences in the laws of different countries regarding the same trading conditions.

ICC announced the latest version of (Incoterms ® 2020) in mid-September 2019, which will be implemented on January 1, 2020