The International Chamber of Commerce (ICC) has published Incoterms® 2020, an update of the regulations that define the responsibilities of buyers and sellers operating in the international trade system. This newest edition of the Incoterms® rules will help prepare business for the next century of global trade.
Incoterms® 2020 is available for purchase from USCIB:
Incoterms® 2020
$60.00
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What are Incoterms® rules?
Since its founding in 1919, ICC has been committed to the facilitation of international trade. Different practices and legal interpretations between traders around the world necessitated a common set of rules and guidelines. As a response, ICC published the first Incoterms® rules in 1936. We have been maintaining and developing them ever since.
Who publishes the Incoterms® rules?
Since its founding in 1919, ICC has been committed to the facilitation of international trade. Different practices and legal interpretations between traders around the world necessitated a common set of rules and guidelines. As a response, ICC published the first Incoterms® rules in 1936. We have been maintaining and developing them ever since.
Why use Incoterms® rules in international trade?
Although other clauses for global trade exist around the world, such as the Harmonized Tariff Schedule of the United States, Incoterms® rules are global in their reach. Similarly, Incoterms® rules do not include trade terms codified for national purposes, such as the “less than truckload shipping” (LTL) rule of the United States. Unlike national trade policies, Incoterms® rules are universal, providing clarity and predictability to business.