Incoterms®

The emergence of Incoterms® in 1936. At the beginning of the twentieth century, the International Chamber of Commerce (ICC) proposed to carry out a study on the terms used in international trade and found a plurality of interpretations of the various terms. Hence the need to carry out a study to standardize the understanding, seeking to facilitate transactions in international trade.

Curiosities about the Regulatory Body

The International Chamber of Commerce (ICC), based in Paris, is a global business organization, a representative body that speaks to authorities on behalf of companies from all sectors in all parts of the world.

The ICC’s mission is to promote trade and investment in the international market and to help businesses meet the challenges and opportunities of globalization.

The ICC has unparalleled authority in establishing rules governing the conduct of international business. Although they are voluntary, these rules are observed in millions of transactions daily.

What is the importance of Incoterms®?

Defines the time at which the risk of loss and damage is transferred from the seller to the buyer. It defines the costs borne by the seller and buyer. Avoid unforeseen costs by defining the shipping and destination locations of the goods.

It allows the correct closing of the foreign exchange contract. If none of the 11 Incoterms 2020 is suitable for the operation, the use of the Incoterm OCV (Other Conditions of Sale) is allowed. Nothing prevents the seller and buyer from establishing, by mutual agreement, the use of Incoterms provided for in previous versions.

Learn how Incoterms are represented - Read on the Blog!

INCOTERMS® 2020

Contact

Use the contact details below or fill out the form.

Incoterms®

Curiosities about the Regulatory Body

What is the importance of Incoterms®?

INCOTERMS® 2020

Contact

+ 55 13 3500-7610

+ 55 13 3500-7610

contato@samlinescargo.com