Breaking Down INCOTERMS

The Incoterms 2020 rules are a set of terms that regulate the responsibilities of companies in contracts for the sale of merchandise, accepted by governments, businessmen, and professionals throughout the world for the interpretation of the most common terms used in International Commerce. The Incoterms rules regulate the following:

• At what time and place does the transfer of risks take place.

• The merchandise from the seller to the buyer.

• The place of deliv