FROM MAGAZINE: The logic of Incoterms

FROM MAGAZINE: The logic of Incoterms: Incoterms are a set of rules which define the responsibilities of sellers and buyers for the delivery of goods under sales contracts. First published by the ICC in 1936, the Incoterms rules are revised



Incoterms are a set of rules which define the responsibilities of sellers and buyers for the delivery of goods under sales contracts. First published by the ICC in 1936, the Incoterms rules are revised from time to time. The latest revision came into force in January 2011, replacing the version published in 2000. Sabyasachi Mukherjee explains the terms and put them in the context of current global trade and commerce.