Latest Incoterms changes

Latest Incoterms changes

Incoterms is a compound word that is a combination of three English words (International Commercial Terms) meaning international trade terms and is widely used. These terms are used to separate costs and responsibilities between seller and buyer.

Incoterms answer questions related to the transportation of goods from the seller to the buyer. Issues include the transportation of goods, clearance of goods, import and export of goods, who is responsible for payment and who is responsible for the risk of moving and transferring goods at different stages of transportation. The various terms Incoterms are commonly used to refer to geographical locations, not to titles related to displacement. Inco Brake has been developed by the International Chamber of Commerce. Incoterms are divided into the following four groups with terms related to each group.