Jurisdiction(s):
United Kingdom

Key definition

Incoterms definition

What does Incoterms mean? In legal practice, Incoterms are standard three‑letter trade terms published by the International Chamber of Commerce that allocate delivery obligations, transfer of risk, carriage, insurance and customs formalities in sale of goods contracts. They are not legislation and have no effect unless expressly incorporated; when incorporated (for example, “FCA London Incoterms 2020”), they form part of the contract and are interpreted by reference to the ICC rules. Used primarily in international trade and also domestically, Incoterms clarify who arranges and pays for transport, who clears goods for export and import, the delivery point, and what shipping documents must be provided. They...

Incoterms® 2010 (archived): lawyers’ guide to drafting and application, key changes from 2000 (DAT/DAP), rule classifications, domestic use, electronic communications, insurance, security, terminal handling and string sales

Published by a LexisNexis Commercial expert

Practice notes

ARCHIVED : This Practice Note has been archived and is not maintained. For the 2020 version of the rule, see: Incoterms® 2020—introduction

The ICC has authorised the use of its publications here via ICC Publishing SA. You can obtain these and other ICC titles from the following:

ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France
ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom
www.iccwbo.org

From 1 January 2020, the Incoterms® 2010 Rules were superseded by the Incoterms® 2020 rules. For details on the Incoterms® 2020 rules in force from 1 January 2020, see Practice Note: Incoterms® 2020—Introduction.

Foreword By Rajat Gupta, ICC Chairman

The expanding world economy now offers companies unprecedented reach into markets across the globe. Products are traded in more countries, at greater scale, and in wider ranges than ever. However, as cross-border sales grow in volume and complexity, the likelihood of confusion and expensive disputes also rises when sale contracts are not drafted with sufficient care. The Incoterms® rules—the ICC’s guidelines governing the use of domestic and international trade terms—support and streamline the conduct of global trade...

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Web page updated on 21/05/2026

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