Know Your 2020 Incoterms® – Video Availble on Demand
An Overview of Incoterms® 2020 from the International Trade Administration
Learn how to use Incoterms that define the responsibilities of sellers and buyers in export transactions.
Incoterms are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specifies who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities.
The Incoterms® 2020 rules are updated and grouped into two categories reflecting modes of transport. Of the 11 rules, there are seven for ANY mode(s) of transport and four for SEA or LAND or INLAND WATERWAY transport.