Practical guide to the Incoterms 2020 rules

Rights and obligations on the goods in international trade

The Incoterms rules are used to define the rights and obligations of the selling and buying companies with respect to the delivery terms of the goods in an international sales transaction.

These rules are essential to agree on five key issues: the obligations and costs borne by the selling and buying parties, who is responsible for customs clearance and insurance of the goods, the place and time of delivery of the goods and the risks ...