What are Incoterms?

Incoterms are International rules for the interpretation of trade terms. Incoterms make international trade easier and help traders in different countries to understand one another. These standard trade definitions that are most commonly used in international contracts are protected by ICC copyright.

To assist traders to understand the areas that the 11 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 for correct use of Incoterms. This information may be obtained by consulting the full published texts of the 11 Incoterms, available online from ICC Publishing.