Incoterms

The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. Incoterms are international trade conditions, that govern the rights and obligations of the buyer and the seller. Who should do what and when? The system was set up to clearify international trading rules for both buyer and seller. In daily practice one might easily choose the wrong Incoterm, often caused by habit, laziness or ignorance. This can be a great risk with high financial consequences, for both the seller and the buyer.

The Incoterms were amended several times, with the eight version in 2010. The difference between the Incoterms of 2000 and 2010 is that the number of rules has been reduced from thirteen to eleven. Four rules (DAF, DES, DEQ and DDU) are replaced by two new ones: DAT and DAP. The old rules that were replaced (DAF, DES and DEQ) were used very little in practice anyway.

In the submenu you will find a full overview of all Incoterms 2010, and a more detailed description of the mostly used Incoterms.

 

 

Advice on Incoterms?

Our experienced customs specialists will be happy to advise you on the customs regulations around delivery terms. Also known as Incoterms.