What are Incoterms?

Incoterms are international rules for the interpretation of trade terms. Incoterms make international trade easier and helps traders in different countries to understand one another. These standard trade definitions, which are most commonly used in international contracts, are protected by International Chamber of Commerce (ICC) copyright. 

To assist traders to understand the areas that the 13 Incoterms cover and how each one works, the official ICC website now publishes the Preambles to each term in read-only format, together with basic information and background. The Preambles do not spell out the obligations of buyer and seller, which are essential to correct use of Incoterms. This information may be obtained by consulting the full published texts of the 13 Incoterms, available online from ICC Publishing.