What are Incoterms International Commercial Terms?
What is Incoterms and why is it so important in global trade Incoterms International Commercial Terms is a set of standard rules for international trade. Incoterms defines the exact responsibility of the seller and the buyer at each stage. Incoterms clearly divides the costs of transportation and insurance. Incoterms specifies the exact point of transfer of risk from the seller to the buyer. Incoterms is developed and published by the International Chamber of Commerce (ICC). Incoterms 2025 is the latest valid and current version in all global transactions. Incoterms reduces legal disputes between the parties to the transaction to a minimum. Incoterms creates complete transparency in export and import contracts. Incoterms is very vital and practical for Iranian exporters of petroleum and petrochemical products. Incoterms 2025 fully supports digital and electronic documents. Incoterms increases the security of transportation in international ports and terminals. Incoterms makes it ...