Where do you find the Incoterms® rules?

The Incoterms® rules have become an essential part of the daily language of trade. They have been incorporated in contracts for the sale of goods worldwide and provide rules and guidance to importers, exporters, lawyers, transporters, insurers and students of international trade.
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Where do you find the Incoterms® rules?

Post by admin » Tue May 08, 2018 4:23 pm

The Incoterms® rules are found in international sale contracts and any of the common documents that may evidence such contracts, such as a pro forma invoice or purchase order.

The legal nature of the Incoterms® rules is frequently misunderstood. The Incoterms® rules are creatures of contract, not legislation. The Incoterms® rules apply to a contract whenever the parties can demonstrate that they both intended the Incoterms® rules to apply. That is why it is important to explicitly incorporate the Incoterms® rules.

There are, however, important exceptions. If trade customs, general sales conditions, commercial usages or previous contractual dealings indicate that the parties intended to use the Incoterms® rules, then the Incoterms® rules may apply even in the absence of a specific mention in the sales contract. Under some legal systems, great weight is given to customs of trade and there may be a presumption that the Incoterms® rules constitute a custom of trade. In such countries, courts or arbitrators might take judicial notice of an Incoterms® rule to resolve a case, although no Incoterms® rule had been incorporated into the contract.
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