Incoterms are internationally accepted rules that set out the costs, risks and obligations of buyers and sellers in international transactions. The terms is also known as International Commercial Terms.
Generally. Incoterms regulate the responsibilities of the buyers and sellers in terms of costs and risks as well as freight insurance. It was established for the first time by the International Chamber of Commerce (ICC) in 1936.
These terms are related to Incoterms. Find out more: