Who is bound by 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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Who is bound by the Incoterms® rules?

Post by admin » Tue May 08, 2018 10:21 am

The Incoterms® rules govern certain responsibilities between the seller and the buyer under the contract of sale; they should not be confused with the allocation of responsibilities between the shipper, carrier and consignee under the contract of carriage

One of the most common misunderstandings related to the Incoterms® rules involves confusing the contract of sale with the contract of carriage.
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