International Commercial Terms (‘Incoterms’) are internationally recognised standard trade terms used in sales contracts.
They’re used to make sure buyer and seller know:
Who is responsible for the cost of transporting the goods, including insurance, taxes and duties
Where the goods should be picked up from and transported to
Who is responsible for the goods at each step during transportation
For more information about the Incoterms® rules can be found at: www.iccwbo.org