PL: Incoterms | DE: Incoterms
Definition
Incoterms (International Commercial Terms) is a set of standardised trade terms developed and published by the International Chamber of Commerce (ICC) in Paris. They define the division of obligations, costs, and risk between seller and buyer in international transactions. The current version — Incoterms 2020 — has been in effect since January 1, 2020, and comprises 11 rules.
Incoterms rules are divided into: rules for any mode of transport (EXW, FCA, CPT, CIP, DAP, DPU, DDP) and rules exclusively for sea and inland waterway transport (FAS, FOB, CFR, CIF). Each rule specifies who arranges and pays for transport, who bears risk of loss or damage, who is responsible for insurance, and who carries out export and import customs clearance.
In the customs context, Incoterms are key for determining customs value — customs value in the EU is determined on a CIF basis. If the contract is on EXW or FOB terms, the importer must add transport and insurance costs to the customs value.
Incoterms rules are divided into: rules for any mode of transport (EXW, FCA, CPT, CIP, DAP, DPU, DDP) and rules exclusively for sea and inland waterway transport (FAS, FOB, CFR, CIF). Each rule specifies who arranges and pays for transport, who bears risk of loss or damage, who is responsible for insurance, and who carries out export and import customs clearance.
In the customs context, Incoterms are key for determining customs value — customs value in the EU is determined on a CIF basis. If the contract is on EXW or FOB terms, the importer must add transport and insurance costs to the customs value.
Legal Basis
Incoterms 2020 (ICC, Publ. 723)