Incoterms 2020, a contraction of International Commercial Terms, is the set of terms used in the field of imports and exports, valid throughout the world, which unambiguously and without any possibility of error defines every right and duty pertaining to the various legal entities involved in a transaction involving the transfer of goods from one country to another.
The latest Incoterms 2020 regulation came into force on 1 January 2020.
