What Are Incoterms® in Customs? A Simple Definition
Incoterms® are international rules established by the International Trade Council (ICC). They allocate the costs, risks, and responsibilities associated with the transport of goods between the seller and the buyer.
Find out everything you need to know about Incoterms® 2020 in our dedicated article.
Related Customs Regulations
Incoterms® 2020 Table
To learn everything about the 11 Incoterms®, modes of transport, costs borne by the buyer or seller, and the transfer of risk between the seller and buyer, see our Incoterms® 2020 table.
Practical Considerations
Incoterms® errors lead to commercial and tax disputes. Choosing the right Incoterm is therefore crucial to ensuring a secure transaction.
How can Conex Customs Software help you?
Customs via conex™ allows you to configure Incoterms® in Customs Declarations so that the customs valueThe customs value is the value assigned to imported goods, which serves as the basis for calculating Customs Duties and … accurately reflects the allocation of costs.
Related Terms
Customs Value
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