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Incoterms 2010
Incoterms (or International Commercial Terms) are an internationally recognized standard and are used worldwide in international and domestic contracts for the sale of goods. First published in 1936, Incoterms® rules provide internationally accepted definitions and rules of interpretation for most common commercial terms.
The rules have been developed and maintained by experts and practitioners brought together by ICC and have become the standard in international business rules setting. They help traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods from sellers to buyers. Incoterms® rules are recognized by UNCITRAL as the global standard for the interpretation of the most common terms in foreign trade.
There are 11 incoterms. You can find a complete overview of all of them on this wallchart. If you like to read more about Incoterms and find out what is new about the Incoterms 2010 click here for additional information.