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The International Chamber of Commerce (ICC) has released Incoterms® 2020, the globally recognised trade terms for the sale of goods, providing certainty and clarity to business and traders everywhere.

The Incoterms® rules were first introduced by ICC in 1936 to establish commonly accepted definitions and rules to related to the sale of goods between trading partners worldwide. Since then, ICC has periodically revised the Incoterms® rules to reflect changes in the international trade system.

Below is a useful matrix of the Incoterms® 2020 to help illustrate the Seller’s and Buyer’s responsibilites per Incoterm:

 

 

N.B.: this matrix is only a guide and should be used in conjunction with official ICC Incoterms 2020 publications. No responsibilty can be taken by The Alliance Group for any errors or omissions therein:

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