Standard international trade usages. INCOTERMS – 2021 Rules

DEZBATERI

Abstract

First published by the Paris International Chamber of Commerce in 1936, the INCOTERMS rules comprise a set of standard commercial terms by which the parties to the international commercial sales contract are guided in order to simplify their understanding of their obligations concerning the place of delivery of the goods, the coverage of risks relating to the delivery/receipt of the goods, the sharing of costs relating to the transportation and insurance of the goods, covering export/import expenses and the communication between the parties of messages relating to these operations. Recognised and accepted by participants in international trade, the standardised rules set out in the documents issued by the parties have the meaning and effect of contractual clauses and are binding on the contracting parties.

Keywords: trade customs, standardized rules, international commercial sales, commercial terms