Rights and obligations on the goods in international trade The Incoterms rules are used to define the rights and obligations of theselling and buying companies with respect to the delivery terms of the goods in an international sales transaction. These rules areessential to agree on five key issues: the obligations and costs borne by the selling and buying parties, who is responsible for customsclearance and insurance of the goods, the place and time of deliveryof the goods and the risks on them. Since its first publication in1936, the International Chamber of Commerce (ICC) regularly reviewsthese rules and adapts them to successive changes in the field ofinternational trade. This contributes to legal certainty ininternational sale of goods transactions and to the standardization of their delivery terms. This guide will help you to answer questionsand choose the most appropriate Incoterms rule for each internationalsales transaction, making it a practical reference tool forprofessionals involved in foreign trade and for those who have to betrained in this subject.
