The main purpose of Incoterms is to distribute the due diligence, risk and cost of an international transaction equally between the two parties to the contract.
The current regulations of the Incoterms are valid worldwide. The Incoterms are a collection of standardized clauses that enable the contracting parties in an international sales contract to make arrangements about the place of performance, further performance obligations and the transfer of risk.
When choosing clauses, however, the contracting parties should ensure that these clauses meet the specific requirements of the transaction in question and are legally permissible.
Companies should therefore inform themselves about the terms and conditions before using Incoterms clauses and, if necessary, consult a freight forwarder.
