Glossary

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Incoterms

Incoterms are international agreements on international transport of goods. The contract stipulates standard agreements to divides the costs and risks between the seller and the buyer. The first Incoterms date back to as early as 1932. The Incoterms are formulated and published by the International Chamber of Commerce. The Incoterms were amended in 1990. The reason for this amendment was the increasing use of electronic data traffic. The English text is the original and official version of the 2000 Incoterms, which have been adopted by the United Nations Commission on International Trade Law (UNCITRAL). Certified translations in 31 languages are available from the national Chambers of Commerce.

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