The INCOTERMS rules published by the ICC (International Chamber of Commerce) to prevent disputes between the parties in international trade and to ensure the smooth conduct of trade are the abbreviated name of the concepts (“International Commercial Terms”) on the forms of delivery in import and export. The forms of delivery determined by the ICC in 1936, are updated periodically, adapted to the conditions of the age, and arranged in a way that the parties will benefit the best.

INCOTERMS 2020, in its latest update, has introduced some changes to adapt to the complexity of trade and modern needs.

These rules determine how the responsibilities and costs of transporting the goods are shared between the parties.

However, the parties may also determine the terms of the trade to be carried out with the rules to be agreed among themselves independently of the ICC. The purpose of the ICC in establishing these forms of delivery is to create a basis with uniform rules in banking and customs transactions, contracts, and transport.

Some of the forms of delivery determined according to INCOTERMS 2020 rules are analyzed below.