Documents & Incoterms
Incoterms
Definition
A standardized set of international trade rules defining selected delivery responsibilities, costs, and risk transfer between seller and buyer.
In practical terms
Incoterms rules clarify tasks such as transport, export clearance, import clearance, and delivery point. They do not replace the sales contract or determine ownership transfer.
Example
A sales contract states FCA Toronto, Incoterms 2020, to identify the named delivery point and rule version.