What is Incoterms Rule?
Incoterms Rule A standard international commercial term, defined by the ICC, governing the allocation of risks, costs, and responsibilities between buyer and seller in trade.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Incoterms Rule” Used in Practice?
The parties agreed on the DDP Incoterms rule, making the seller responsible for delivery and import clearance.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Incoterms Rule?
A standard international commercial term, defined by the ICC, governing the allocation of risks, costs, and responsibilities between buyer and seller in trade.
Where can I learn this term for free?
Termify is a 100% free professional English app that teaches Incoterms Rule and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
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